Apple now has more cash than the federal operating balance, and most among the US non-financial firms
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Not only that, but it seems that Steve Jobs's pride and joy company has the most cash out of each and every non-financial US company, i.e., those that actually produce something instead of moving digital money around with clicks of the mouse, and whose cash pile is mostly collateralized, i.e. phony.
In fact, just in the last quarter, Apple added $10 billion to its reserves, more than Google's entire revenue stream for Q2. Not bad for a company that makes consumer electronics and software, so we can't help to wonder what the US economy would look like if it wasn't for the Silicon Valley.
While the Valley giants Apple, Google and Microsoft are all trying to pay as little taxes as possible, this is true for any other big US firm out there too. After all, why mostly sponsor Wall Street with your hard-earned cash, unless you get some sort of tax amnesty to bring the money sitting in offshore accounts back home, as Apple and others are lobbying for.
The biggest downside is that the jobs that produce those gadgets or IT services have mostly gone overseas, so the fact that Apple has so much disposable cash is of little comfort to many.
A pending question is what is Cupertino planning to do with this money, after it conquered the world of mobile, and is well-positioned for the post-PC era, as Steve Jobs loves to call it. There have been many rumors about an Apple TV set, powered by iOS and iTunes, which will no doubt play well with your iPhone and iPad, if true, so that's another venture for which the cash war chest might be opened.
via DailyTech, AppleInsider & BizJournals
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93 Comments
1. dionddc posted on 29 Jul 2011, 04:46 4 0
I like the bold words exclaiming how much Apple has compared to Google.
Phone Arena forgot to mention how much Samsung has. It's a lot more.
3. dionddc posted on 29 Jul 2011, 05:29 0 0
I'm not sure how much cash they have, but given that they have over $317 billion in assets, it's guaranteed to be a lot more than Apple.
20. taco50 posted on 29 Jul 2011, 09:02 0 0
How much does Samsung have?
57. 530gemini posted on 29 Jul 2011, 21:23 1 1
@htcfreak. Samsung does not have $120B. Provide us your source please. Also, Samsung has billions of dollars of debts as well, while Apple has zero debt.
87. ladyhaly posted on 30 Jul 2011, 20:51 0 0
Where did you get that "debt" idea with Samsung? PROVIDE US YOUR SOURCE PLEASE. Just echoing your own words. :)
15. Hen (unregistered) posted on 29 Jul 2011, 08:32 1 0
They did not forget, they just saw it as irrelevant because to get the large number that Samsung has, it has to aggregate that from a host of other industries that have nothing to do with wireless and portable devices such as appliances and televisions. When you take those out, while the profits are nice, it pales in comparison.
53. dionddc posted on 29 Jul 2011, 18:04 0 0
@Hen
Samsung Electronics still has a near $120 billion in assets compared to Apple's approximate $75 billion in assets.
The fact that Apple isn't in appliances proves the fact that Samsung is stronger anyway.
58. 530gemini posted on 29 Jul 2011, 21:26 0 0
@dionddc. We're talking about actual cash reserves here. Not just cash. Apple has zero debt, while Samsung has billions of debts. Give us your source that details as to how much spendable cash Samsung has. Stop beating around the bush.
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