Apple (AAPL -0.7%) rises slightly as David Einhorn makes his case for a preferred stock...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (AAPL -0.7%) rises slightly as David Einhorn makes his case for a preferred stock distribution (webcast). Einhorn imagines Apple issuing one or more "iPrefs" with a face value of $50 to shareholders for each common share owned. Each iPref would pay a $0.50/share quarterly dividend, and would be publicly traded. The iPrefs would yield more than Microsoft and IBM's long-term debt, and the Fed's zero interest rate policy "creates enormous demand for safe income," Einhorn argues. (live blog)