“For the first time that I can remember, Microsoft closed the quarter with less cash than Apple. Cash, cash equivalents and short-term investments for Microsoft add up to $20.7 billion. Apple, meanwhile, closed the quarter with $24.5 billion,” Dean Takahashi reports for VentureBeat.
“Microsoft doesn’t even have enough cash to buy Yahoo! outright; it would likely have to finance an acquisition with some debt,” Takahashi reports.
“I never thought I would see this day,” Takahashi reports.
MacDailyNews Take: We did.
Full article here.
[Thanks to MacDailyNews Readers “Ken” and “Chuckles the Microsoft CEO” for the heads up.]
MacDailyNews Note: “The economic downturn may present extraordinary opportunities to companiess that have cash. Cash is king. We are very comfortable with cash in bank and it is not burning a hole in our pocket.” – Apple CEO Steve Jobs, October 21, 2008