“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.]
King Steve the first. All hail the King.
Jobs is King, period.
Better use it before it gets “redistributed.”
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.
The campaign is over, Metryq. You can let go of the talking points, especially since they obviously failed.
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.
R2,
I am sick of the campaign too. It is starting up again for 2010/2012.
But Metyq is just having fun.
There is nothing wrong with a little good natured ribbing.
It is a promise that money will be taken away from “those who don’t really need so much…”
Sounds a bit like Apple, wouldn’t you say?
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.
Imagine what Jobs could do for US if he was a president.
Unless the economy starts to show a turn for the better, I don’t think all this cash will help Apple in the long run. You customers must be able to buy your products. If not, what is the purpose. Sure all this cash will help them weather these bad times, but it all depends on how long the bad times last.
“‘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.'”
Apple hired an additional 11,000 employees in the last year, while every other company in Silicon Valley was shedding employees like my cat sheds fur!
Maybe Steve was one step ahead of that suggestion!
“Imagine what Jobs could do for US if he was a president.”
Hard to be sure, Jobs saves money, so perhaps the natioal debt would be attacked finally, but then again Jobs called gay marriage a civil right. Jobs also stated that Al Gore could be president, not sure Jobs is too smart on all topics.
Good points but you should consider that what Steve Jobs does do VERY well, is seeing the big picture AND puts together good teams.
BUT, is he going to offer a million dollars to someone if they will let him cut off their right arm like Bill Gates did?
http://www.billgatesmicrosoft.com/
Jobs for President..??
First question : Running as a Republican, Democrat, or Independent?
It has been proven that there are a lot of people who just won’t see past those labels!!
@Vladimir Putin;
Perhaps you should read the occasional American newspaper – the Washington Post in particular. It had a very good article yesterday that outlined some of the UNtraditional names being considered for some very traditional Washington jobs.
True, change for change’ sake is rarely good, but when it is done to prevent one’s country from repeating stupid mistakes from the past, change can be a very good thing!
Obama DID define that change – it is the change we need to move this country forward, not backwards, like we’ve been doing.
The Republican Party used to be the small government party devoted to individual liberty.
I guess the Patriot Act coupled with the new Homeland Security Department puts the lie to that one, huh? I think they’ve lost their way.
Jobs as President, with Al Gore as his running mate !
Obama is going to be more like Bush and McCain would have been more like what Obama was promising. Funny how politics works isn’t it.
Let’s hope that no one actually every turns up Obama’s real Kenyan Birth Records or we’ll be dealing with President ” facts and truth just getting in my way” Biden.
“The Republican Party used to be the small government party devoted to individual liberty….”
Ah, yes.. the good old days
Let’s hope that no one actually every turns up Obama’s real Kenyan Birth Records
wouldn’t matter, the Democrates are in charge, and they never turn on their own.
@ Fruit
Your tinfoil hat is crooked.
The cash will last until the Big O gets to it…
“Jobs replied dryly. ‘I think hiring every engineer in Silicon Valley is a good idea, though. Thanks.'”
What he probably said was, ‘I ‘DON’T’ think hiring every engineer in Silicon Valley is a good idea, though. Thanks.'”
@which party?
“It has been proven that there are a lot of people who just won’t see past those labels!!”
We all know how much SJ hates labels! Stickers too!