Here are your Apple rumors and AAPL news items for today:
Sharing the Wealth: A hedge fund is suing Apple (NASDAQ:AAPL), demanding that the company get more of its cash to shareholders, Reuters notes. Greenlight Capital, headed by David Einhorn, wants Apple to issue a perpetual preferred stock with a 4% yield. Einhorn has been critical of the company’s capital allocation policy, which has seen its cash balance exceed $100 billion. Einhorn argues that Apple shares are undervalued and that for every $50 billion in preferred stock Apple issues, its stock would gain about $32 a share. Einhorn has not revealed how he calculated that gain, but he said other shareholders would see his idea of perpetual preferred stock as a “win-win” scenario. Apple’s CFO recently told analysts the company was looking at ways to return some of its cash to shareholders.
On Top: According to market research firm Canalys, Apple is the leading maker of personal computers, PC Magazine notes. Canalys includes tablet computers in its calculations. On that basis, PC shipments during the fourth quarter jumped 12% compared to the prior year, hitting 134 million units. Apple shipped 27 million units during the quarter, 20% of total PC shipments; 22.9 million of those were iPads. Shipments of the company’s Mac computers fell during the quarter due to constrained supplies of updated models. Hewlett-Packard (NYSE:HPQ) was ranked second, topping Lenovo by a mere 200,000 units. Dell (NASDAQ:DELL) slipped to fifth place behind Samsung.
iLoans? A patent application filed last week suggests that Apple is developing a person-to-person lending system for the iPhone, CBCNews notes. In its filing with the U.S. Patent Office, Apple outlined an “ad-hoc cash dispensing network” that would allow iPhone users to post a request for cash. Other iPhone users in the same geographic area can then decide whether to provide a loan. If an agreement is reached, the parties can meet in person to exchange electronic funds via their iPhones. The transactions would be made using Bluetooth or other short-range signals. Lenders would receive a fee for money lent, which they would then split with Apple. Of course, a patent application doesn’t mean the service will actually be implemented.
For more about the company, check out our previous Apple Rumors stories.