The King of Cash is Apple CEO Steve Jobs

“How much cash does Apple have? So much that even the hard-bitten investment analysts who cover the company for a living are sometimes in awe,” Brian Caulfield reports for Forbes.

“With automakers, insurance companies and banks going to the U.S. government and begging for bailout money, Apple Chief Executive Steve Jobs took a moment during last month’s earnings conference call to call attention to his company’s massive $24.5 billion pile of cash and short-term investments,” Caulfield reports.

‘I think you could hire almost every engineer in Silicon Valley on a lifetime employment contract and not really dent that significant cash horde that you have,’ Bernstein Research senior analyst Toni Sacconaghi said on the earnings call,” Caulfield reports. “‘There’s going to be some significant opportunities,’ Jobs replied dryly. ‘I think hiring every engineer in Silicon Valley is a good idea, though. Thanks.'”

Caulfield reports, “The bottom line: Jobs is the king of cash, he can do anything.”

Full article here.

[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]

52 Comments

  1. Great article, MDN. But this financial solidity will do absolutely nothing to protect AAPL from the coming (further) meltdown, I fear. There is an aphorism in economic lore that bad money drives out good. The same applies with equities: the besotted dogs will take the graceful dolphins down with them.

  2. Metryq is just using the President-Elect’s own words. Now that the campaign is over, the redistribution is just about guaranteed. That’s the policy he ran on, and we all know that politicians always do what they say they will do.

  3. Personally, I can’t wait to see if the glazed-over eyes of Obama supporters snap into focus when the shit hits the fan or if they are so far gone they’ll continue in denial ad infinitum.

    You poor saps actually voted for “change” undefined.

    I mean, I knew you Americans were getting stupider with each passing year, but this one takes the cake!

    A little advice that you won’t take because you’re too busy watching Oprah: Change merely for the sake of change is dangerous at any time. In today’s world climate, it may be deadly.

    Thank you dumbed-down American dunces for voting in a smooth talking empty suit and not McCain.

    That would have seriously curtailed my plans.

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