New Delhi: American hedge fund manager David Einhorn believes tech giant Apple won't become like other tech companies and is certainly not going to become the next Motorola or BlackBerry.
Einhorn's iPrefs proposal, which is essentially the company's shares that pay dividend 'forever', influenced Apple's decision to launch one of the biggest share buybacks in history.
Einhorn said he would give Apple a grade of "C+" on the matter of capital management. However, he added that earlier this year, when he accused the company of having a "problem" with hoarding cash, he would have given them a "D-" grade.
Einhorn acknowledged Apple's old-school approach under Steve Jobs because it makes sense to keep a cushion of cash if the markets hit a bad cycle.
