Aswath Damodaran isn't crazy about David Einhorn's Apple (AAPL) preferred stock proposal. "Issuing preferred stock will not add value to the company," the finance prof. argues. Moreover, while such a move could lift shares by removing investor fears of never seeing much of the cash Apple generates, regular dividends and/or buybacks could do the same. Nonetheless, Damodaran is glad Einhorn is "rocking the boat," as it "opens the door to a healthy discussion about how Apple should deal with its large and growing cash balance." (previous)
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