by Christopher Freeburn | March 19, 2013 12:43 pm
Here are your Apple rumors and AAPL news items for today:
Me Too: South Korean electronics giant Samsung is preparing to launch its own high-tech wristwatch, Bloomberg notes. Word of the Samsung watch comes after rising rumors that Apple (NASDAQ:AAPL) is working on a flexible display iWatch, which could debut as early as this year. A Samsung executive told Bloomberg that the company has been developing a watch of its own for “so long.” He did not disclose any timetable to the launch of a Samsung watch, or reveal possible features or pricing. The executive said that when it came to watches, it was a race to see which company could “commercialize” the product correctly. Recent reports indicated that Apple has a team of 100 developing the iWatch. As with other product rumors, Apple has not confirmed or denied whether such a project actually exists.
Even Bigger: Apple’s cash reserves could hit $170 billion by the end of this year, CNET notes. The prediction comes from Moody’s, which says that Apple has the largest cash reserves of any non-banking company. At the end of 2012, the company had cash reserves of $137 billion. Apple’s rising cash position has provoked a lawsuit by David Einhorn’s Greenlight Capital hedge fund. Einhorn wants to see the company issue preferred shares with a perpetual dividend as a way to return some of the cash to investors. Some analysts believe that Apple will raise its quarterly dividend by as much as 56% this year to share some of the cash with its shareholders.
Ooops: An attack on Apple products by China’s state-run TV station fell flat after one of the participants errantly revealed texting instructions he’d been given, the Wall Street Journal noted. On March 15, China Central Television launched a broadside against Apple’s customer service and warranties. The report was followed by a series of anti-Apple text messages from Chinese celebrities. One of those, from Taiwanese-American actor Peter Ho, which accused Apple of “playing so many dirty tricks,” also included the line: “Need to send out about 8:20 pm.” Most of the text messages posted on Weibo, a Twitter-like service, were sent about that time. Weibo users quickly noted the timing of the messages and the fact that all of the major posts were sent from Apple devices. Ho later claimed that his Weibo account had been hacked.
For more about the company, check out our previous Apple Rumors stories.
Source URL: https://investorplace.com/2013/03/tuesday-apple-rumors-samsung-to-make-rival-iwatch/
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