感谢分享
后面的展望更能体现苹果的价值观
特别喜欢:
We manage Apple for the long term, and Apple has always used periods of adversity to re-examine our approach, to take advantage of our culture of flexibility, adaptability and creativity, and to emerge better as a result.
Most importantly, we are confident and excited about our pipeline of future products and services. Apple innovates like no other company on earth, and we are not taking our foot off the gas.
We can’t change macroeconomic conditions, but we are undertaking and accelerating other initiatives to improve our results. One such initiative is making it simple to trade in a phone in our stores, finance the purchase over time, and get help transferring data from the current to the new phone. This is not only great for the environment, it is great for the customer, as their existing phone acts as a subsidy for their new phone, and it is great for developers, as it can help grow our installed base.
This is one of a number of steps we are taking to respond. We can make these adjustments because Apple’s strength is in our resilience, the talent and creativity of our team, and the deeply held passion for the work we do every day.
Expectations are high for Apple because they should be. We are committed to exceeding those expectations every day.
That has always been the Apple way, and it always will be.
现金中性是本分的体现,既容易又不容易。这样的企业太少了。
除了苹果和伯克希尔,好像没见过明确说明利润使用原则的企业。(可能是我知道的公司太少)
“现金中性”好像是让无需再投入的现金变成创造利润的现金(通过回购)
Apple also announced a goal to use nearly all of its $163 billion in net cash, hinting at more stock buybacks, dividends or acquisitions. Its total cash holdings rose to $285 billion in the December quarter, while its total debt was $122 billion.
The company previously announced plans to make approximately $38 billion in tax payments to the U.S. government under the new tax plan's repatriation rate for its cumulative foreign earnings.
"Tax reform will allow us to pursue a more optimal capital structure for our company," Chief Financial Officer Luca Maestri said Thursday on the earnings call. "Our current net cash position is $163 billion and given the increased financial and operational flexibility from the access to our foreign cash, we are targeting to become approximately net cash neutral over time."
The executive noted that the company returned nearly 100 percent of its free cash flow during the past several years to investors.
"That is the approach that we're going to be taking," he said. "We're going to be very thoughtful and deliberate about it."
Maestri said Apple will not make any changes to its mergers and acquisition strategy, saying the company will continue to look "at all sizes" and aims to "accelerate our product road maps" from its acquisitions.
CEO 网页链接{Tim Cook} explained that Apple's cash position won't literally go to nothing.
"What Luca's saying is not cash equals zero. He's saying there's an equal amount of cash and debt and that they balance to zero," he said.
Apple said it will reveal details of the new capital allocation plan when it reports its March quarter earnings results ——earning call, Q4 2017.