We've reported on today's financial results announced by Apple, but let's not forget the huge cash reserves the company is stocking up.
From today's figures, we know Apple is sitting on $81.57bn. In the last three months lone, it's added $5.4bn to its cash pile.
That's enough to buy Nokia and Blackberry and HTC. It's even enough to buy Samsung.
As MacRumors notes: Apple CFO Peter Oppenheimer oversees $9.815 billion in cash and cash equivalents, $16.137 billion in short-term marketable securities, and $55.618 billion in long-term marketable securities. In the earnings call with analysts this afternoon, Apple CEO Tim Cook said the cash wasn't "burning a hole in our pocket" and that the company invested very conservatively and didn't want to do "silly things" with the money.Oppenheimer also pointed out that two-thirds of Apple's $81.57bn is sitting offshore.
As Reuters notes: The U.S. government taxes U.S. businesses on income earned worldwide, but allows them to defer taxes on the money until it is brought back to the United States. As a result, American corporations like to keep the money abroad, particularly as they increase investment overseas.You can follow IJSMblog on Twitter and Facebook
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