Trending: Jeff Bezos and other investors raise $200 million for vertical farming startup Plenty

David Einhorn

Hedge fund manager David Einhorn has taken shots at Microsoft in the past, noting that the software giant should can CEO Steve Ballmer.

Now, Einhorn is taking a shot at Apple, for an entirely different reason. It has just too much gosh-darned cash on the books. Einhorn, who runs Greenlight Capital and owns 1.3 million Apple shares, has sued the maker of the iPad and iPhone for hoarding its cash.

Einhorn reportedly thinks Apple has a “cash problem,” and should kick back some of its $137 billion in cash back to shareholders.

“We do have a few suggestions as to how to help the shareholders make more money while allowing Apple to pursue all of its plan,” Einhorn told Bloomberg TV.

That’s a significantly different problem than what Einhorn criticized Microsoft for in 2011, noting that Ballmer’s “continued presence is the biggest overhang on Microsoft’s stock.”

Microsoft also has a huge cash pile, sitting on $68 billion in cash and short-term investments.

The Guardian notes that Apple’s cash position is nearly equal to the gross domestic product of New Zealand.

Apple did announce plans for a dividend last year, saying that it would pay out some $45 billion over three years. But Apple’s cash position has mushroomed since then.

 

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline

Comments

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.