Here are your Apple rumors and AAPL news items for today:
Once Again: According to the Korean Herald, Apple (AAPL) has partnered with an unidentified South Korean display panel maker to produce the screens for its much-rumored television set. The report indicates that the iTV will feature a 65-inch OLED (organic light-emitting diode) panel. Prototypes for the Apple TV set had been built and are currently being tested. Apple had planned to launch iTV sets this year — with 65-inch and 77-inch models — but informed its manufacturing partner that the sets would be delayed until 2015. Apple decided to delay the iTV’s launch in order to switch from standard LCD panels to OLED panels. Apple suppliers are not yet ready to produce the OLED panels in sufficient supply. An Apple-branded TV set has been rumored for years, but has so far failed to materialize. Other reports say that Apple is focusing on an enhanced set-top box and is seeking streaming content deals with media companies and cable providers. Some analysts, noting the turbulence of the global TV market, have expressed doubt that Apple would attempt to launch its own TV set.
Tapped: One month after it disclosed that Apple was one of its major customers, Pixelworks (PXLW) has named a former Apple employee to its board of directors, AppleInsider notes. David J. Tupman, who once worked on iPhone and iPod hardware, was named to the Pixelworks board on Friday. Tupman was employed at Apple between 2001 and 2011. Last month, Pixelworks stock surged after a regulatory filing revealed that Apple is one of the video processing technology developer’s leading customers.
Restrained: Apple’s cash hoard is now about $159 billion, the New York Times notes. That’s a lot larger than it was 10 years ago — before Apple launched the iPhone and iPad. Back then, Apple had about $5.5 billion in cash. While Apple has a huge amount of cash, it has not chosen to go on a massive acquisition spree — unlike other technology rivals like Facebook (FB) and Google (GOOG). While Apple has purchased a number of smaller tech firms, it has never spent more than $1 billion on a single acquisition. CEO Tim Cook has said that Apple doesn’t plan to buy things just for the sake of doing so. The Times compiled a helpful list of things Apple could do with its cash hoard: Apple could fund a manned mission to Mars (approximate price tag: $160 billion); Apple could purchase Tesla Motors (TSLA) for about $30 billion; or it could by-pass other U.S. wireless carriers by acquiring its own — either T-Mobile (TMUS) for about $26 billion, or Sprint (S) for $37 billion … or both. However, some analysts speculate that Apple is keeping its cash hoard robust as an insurance policy against potential rough times in the future.
For more about the company, check out our previous Apple Rumors stories.