Apple set to announce plans for its $137.1 billion savings

According to Bloomberg, Apple will announce plans for £137.1 billion in savings and investments by next month. The report, which cites Howard Mark, Chief Investment Officer at Gamco Investors, who says:

“We’re going to get an announcement from the company as to how they intend to reallocate some of their cash. They will put a floor under their stock at a higher price than it is today.”

Apple has come under fire recently for its huge cash hoard, with investors like Greenlight Capital’s David Einhorn arguing that the company should issue preferred, higher value shares. Others have suggested that Apple should use the money to initiate a buy-back scheme. Or, they could use their cash to buy 416,413,374 16GB Wi-Fi iPad minis…