Except that Apple's cash and short term investments now total in excess of $50 billion, and of course you completely ignored my other challenges. Try again.
Except it doesn't. Find me one financial balance sheet link that says Apple is holding 50B in cash and short term investments. Not the whinings of an analyst asking for dividends but an actual financial summary showing $50B in cash and short term investments.
Except it doesn't. Find me one financial balance sheet link that says Apple is holding 50B in cash and short term investments. Not the whinings of an analyst asking for dividends but an actual financial summary showing $50B in cash and short term investments.
You are misreading. Just take a look at the concurrent thread on Apple's cash position, and the questions which were asked in the earnings report conference call about same:
Apple currently has $51 billion in cash and liquid assets on the balance sheet, and is accumulating cash at a rate of about $5 billion a quarter (translation: at the end of the current fiscal year, they will be sitting on around $70 billion). You can continue to misread and believe otherwise, but you will continue to be wrong.
You are misreading. Just take a look at the concurrent thread on Apple's cash position, and the questions which were asked in the earnings report conference call about same:
Apple currently has $51 billion in cash and liquid assets on the balance sheet, and is accumulating cash at a rate of about $5 billion a quarter (translation: at the end of the current fiscal year, they will be sitting on around $70 billion). You can continue to misread and believe otherwise, but you will continue to be wrong.
Apple's cash and short term investments are NOT $50B as you stated before. if you include long term investments they are $50B. It is liquid in the sense that AAPL can sell these assets but for whatever strategic reason this is ownership in things it would rather not part with. This is why they aren't listed under current (liquid) assets but as non-current (less liquid) assets. So your characterization of $50B in liquid assets is STILL incorrect.
A good example is Steve Jobs' Disney holdings. These aren't liquid unless Steve doesn't want to be Disney's single largest shareholder anymore. So yah, in theory he could sell it all and get an aircraft carrier for a yacht or something but in practice it's not liquid for strategic reasons.
Taking MSFT as an example if you add in long term investments to their cash and short term investment then they are sitting on 45B cash. GOOG drops behind a little since they have only 34B in cash + short term + long term investments. Both are still in the same category as AAPL in terms of liquid assets.
Actual "cash" position is somewhat unknown if you include long term investments. They tend to get booked at the purchase price of the security, not the current price. Given that, you can't count on that $11B or so of long term securities actually being worth $11B today. They could be worth a lot less or a lot more.
Comments
Except that Apple's cash and short term investments now total in excess of $50 billion, and of course you completely ignored my other challenges. Try again.
Except it doesn't. Find me one financial balance sheet link that says Apple is holding 50B in cash and short term investments. Not the whinings of an analyst asking for dividends but an actual financial summary showing $50B in cash and short term investments.
http://finance.yahoo.com/q/bs?s=AAPL
http://ycharts.com/companies/AAPL/cash_on_hand
http://finapps.forbes.com/finapps/js...APL&period=qtr
http://www.google.com/finance?q=NASDAQ:AAPL&fstype=ii
http://www.dailyfinance.com/financia.../balance-sheet
http://www.marketwatch.com/investing...-sheet/quarter
http://data.cnbc.com/quotes/AAPL/tab/7
If you can't get something this basic right then your other challenges and opinions are almost meaningless.
AAPL is a $50B company. Not AAPL has $50B in cash laying around.
Except it doesn't. Find me one financial balance sheet link that says Apple is holding 50B in cash and short term investments. Not the whinings of an analyst asking for dividends but an actual financial summary showing $50B in cash and short term investments.
You are misreading. Just take a look at the concurrent thread on Apple's cash position, and the questions which were asked in the earnings report conference call about same:
http://forums.appleinsider.com/showthread.php?t=113952
Apple currently has $51 billion in cash and liquid assets on the balance sheet, and is accumulating cash at a rate of about $5 billion a quarter (translation: at the end of the current fiscal year, they will be sitting on around $70 billion). You can continue to misread and believe otherwise, but you will continue to be wrong.
You are misreading. Just take a look at the concurrent thread on Apple's cash position, and the questions which were asked in the earnings report conference call about same:
http://forums.appleinsider.com/showthread.php?t=113952
Apple currently has $51 billion in cash and liquid assets on the balance sheet, and is accumulating cash at a rate of about $5 billion a quarter (translation: at the end of the current fiscal year, they will be sitting on around $70 billion). You can continue to misread and believe otherwise, but you will continue to be wrong.
Apple's cash and short term investments are NOT $50B as you stated before. if you include long term investments they are $50B. It is liquid in the sense that AAPL can sell these assets but for whatever strategic reason this is ownership in things it would rather not part with. This is why they aren't listed under current (liquid) assets but as non-current (less liquid) assets. So your characterization of $50B in liquid assets is STILL incorrect.
A good example is Steve Jobs' Disney holdings. These aren't liquid unless Steve doesn't want to be Disney's single largest shareholder anymore. So yah, in theory he could sell it all and get an aircraft carrier for a yacht or something but in practice it's not liquid for strategic reasons.
Taking MSFT as an example if you add in long term investments to their cash and short term investment then they are sitting on 45B cash. GOOG drops behind a little since they have only 34B in cash + short term + long term investments. Both are still in the same category as AAPL in terms of liquid assets.
Actual "cash" position is somewhat unknown if you include long term investments. They tend to get booked at the purchase price of the security, not the current price. Given that, you can't count on that $11B or so of long term securities actually being worth $11B today. They could be worth a lot less or a lot more.