An activist hedge fund is pushing Apple to consider new ways to return billions of dollars to shareholders, after the iPhone maker’s share price fell more than a third in recent months.
The move by David Einhorn’s Greenlight Capital is the latest attempt to unlock the huge cash piles being hoarded by large technology groups.
The 20 largest US groups in the sector, many of which are averse to making big investor distributions, are sitting on close to $500bn of cash and investments.
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