What Apple Should Do with Its Massive Piles of Money

By William Lazonick

“An Open Letter to Tim Cook, CEO of Apple

Dear Mr. Cook,

In a recent article posted on this website, I criticized Carl Icahn’s call for your company to intensify its stock buybacks. In this letter, I’d like to explain more fully why I view the $51 billion already spent by Apple on open market (including accelerated) share repurchases under your leadership as a major misallocation of resources for both the company and the U.S. economy.”…

[Click HERE to read the full article]