Shares of Apple (NASDAQ: AAPL ) are up today, while most of the rest of the market is down, on news that Greenlight Capital founder David Einhorn is asking Apple shareholders to vote against the company's proposed elimination of its ability to issue preferred stock. Einhorn would rather that Apple did issue preferred stock, which could return some of the company's enormous cash pile on its balance sheet to shareholders in a way that isn't alas depleting as a one-time dividend, and could boost the share price. In this video, Motley Fool tech and telecom analyst Andrew Tonner tells us why he sees Einhorn's plan as unlikely, but also why the plan underscores some of the biggest reasons that Apple is a buy today.
There's no doubt that Apple is at the center of technology's largest revolution ever, and that longtime shareholders have been handsomely rewarded with over 1,000% gains. However, after the company's recent backslide, there is a debate raging as to whether Apple remains a buy. The Motley Fool's senior technology analyst and managing bureau chief, Eric Bleeker, is prepared to fill you in on both reasons to buy and reasons to sell Apple, and what opportunities are left for the company (and your portfolio) going forward. To get instant access to his latest thinking on Apple, simply click here now.