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Apple not planning aggressive stock buyback

According to Reuters, Apple’s vice president of finance and corporate controller, Peter Oppenheimer, told investors at a Prudential technology conference today that the company has no plans to initiate an aggressive buyback of its shares, explaining that it needs its $4 billion cash reserve to retain employees and reassure customers, particularly in the education market, that its products are a viable investment. Oppenheimer told investors that the company had bought back some shares following the September 11 attacks on Washington and New York.

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