Think you take retail therapy seriously? Think again. Speaking at a Goldman Sachs investor conference, Tim Cook said Apple's retail stores are like "Prozac" for when he's feeling down, The Wall Street Journal reports.
Cook made the comments in a speech that offered a vigorous defense of Apple's capital allocation practices. Activist investor David Einhorn has targeted the firm for failing to distribute more of its $137 billion treasure trove to shareholders.
What does retail have to do with Einhorn's griping? Nothing directly, but Cook said that Apple plans to invest heavily in its retail stores by upgrading 20 existing locations, and adding 30 more in various spots around the world. In the video below, Tim Beyers of Motley Fool Rule Breakers and Motley Fool Supernova applauds the idea, and suggests that Apple get even more aggressive with its retail operations. Please watch, and then be sure to leave a comment to let us know what you think.
Despite its success, retail remains a small part of Apple's global operations. There's much more to know before determining whether Apple remains a buy. Fortunately, 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 more importantly, your portfolio) going forward. To get instant access to his latest thinking on the stock, simply click here now.
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