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Technology Stocks : Apple Inc.

AAPL 278.79

-0.7%

Dec 5 9:30 AM EST

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To: manalagi who wrote (149870)	2/8/2013 11:16:01 AM
From: Sr K	Read Replies (1) of 213173

Sixty-three companies in the S&P 500 have preferred stock, according to data compiled by Bloomberg from their most recent financial statements. The total fell from 164 companies at the end of 1997, the year when Apple sold convertible preferred shares to Microsoft Corp. for $150 million. Microsoft converted its stake into common stock within four years. Apple hasn’t had any preferred equity since then, and the Cupertino, California-based company would lose the ability to issue new shares under a proposed amendment to its charter. “They’re just getting rid of a relic,” Brian Barish, president and chief investment officer of Cambiar Investors LLC, said yesterday in a phone interview. Barish’s Denver-based firm manages about $7 billion. bloomberg.com

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