At the end of this quarter, Apple will have enough cash to pay the enterprise value of the manufacturers of 75% of cell phones in the industry
While the Federal Trade Commission would never agree to approve such a transaction, if Apple were to pay the enterprise value for RIM ($13.8 billion), Nokia ($22.6 billion), HTC ($25.4 billion) and Motorola Mobility ($4.2 billion), it would cost them $66 billion-less than the amount of cash Apple will shortly have on hand. In real life, of course, one would have to offer a premium price to the shareholders in order to buy them out. That is where Apple's high priced stock would come in handy. A combination of stock and cash would be more than enough to get a deal done. But alas, it is just a pipe dream because of anti-trust laws.
Still, Apple would probably be able to get approval to purchase one of its rivals excluding Microsoft. Would you like to see them go for an Android manufacturer like HTC or Motorola, or aim for RIM? Apple has been able to amass this cash hoard because of the incredible profitability of the iPhone. With just 4% of the worldwide handset market, Apple brings in more than half of the industry's profits. Could you imagine the pile of cash Apple would have available to tap if it increased its market share just a little?
source: Asymco via AppleInsider