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WASHINGTON: American hedge fund manager David Einhorn has said that Apple is not like other tech companies and is certainly not going to become the next Motorola or BlackBerry.
Einhorn’s iPrefs proposal, which is essentially the company’s shares that pay dividend ‘forever’, influenced Apple’s decision to launch one of the biggest share buybacks in history.
According to AllThingsD, the Greenlight Capital founder said that Apple’s decision moves its capital management from a D- to a C as the company is known for its conservative attitude towards its cash.
Einhorn acknowledged Apple’s old-school approach under Steve Jobs because it makes sense to keep a cushion of cash if the markets hit a bad cycle.
However, given the success of the tech giant’s iPhone venture, Einhorn explained that such fears should be overcome as Apple is not like the sinking BlackBerry or Motorola business and is different from them.
