“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.]