Apple to announce plans for £62bn bank balance

Apple has announced that it will hold a press conference at 1pm this afternoon, to reveal how it plans to spend its whopping £62 billion bank balance.

“Tim Cook, Apple’s CEO, and Peter Oppenheimer, Apple’s CFO, will host a conference call to announce the outcome of the Company’s discussions concerning its cash balance. Apple will not be providing an update on the current quarter nor will any topics be discussed other than cash,” the Cupertino firm said in an official press release.

Apple are remaining as tight-lipped as ever, so nobody yet knows how the company plans to spend its cash. However, there’s plenty of rumours circulating the web, one which claims Apple will acquire social media giant Twitter.

“Apple doesn’t make moves like this lightly and obviously considers Twitter a safe bet,” guessed Matthew Panzarino of The Next Web. “If that bet turns out to be wrong however, Apple will do whatever it takes to ensure that Twitter remains a part of its service. Ensuring that Twitter’s lifespan will be a long one.”

There’s also talk that Apple could announce a bumper dividend payout to its shareholders, an increase in pay for its staff in China, and MG Siegler predicts that the company could be buying-out arch-rivals Samsung.

Be sure to check back this afternoon for all of the latest developments.

[Source: Apple]