If cash is king, Apple’s is an emperor

“Apple’s cash for short-term and long-term marketable securities totaled $65.8 billion at the end of the March quarter,” Horace Dediu reports for asymco. “Cash increased by $6.1 billion.”

The enormity of the overall size of this cash can be put into several perspectives:

• Current cash is worth more than Nokia, RIM and Motorola Mobility’s market caps, put together.

• Apple’s cash is worth half of Google’s enterprise value.

• If Apple had no revenues, the current cash would sustain operations (SG&A and R&D) for over 7 years or until the middle of 2018.

More in the full article, including, of course, a nice chart, here.

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

25 Comments

  1. To be correct, this concept has little to do with “cash” (even Apple Stores rarely accept cash). So this “cash” actually means noncash, cashless liquid assets. Most companies do not have actual cash in that “cash” at all.

    So it is just another example of strange, but colourful (nearly) exclusively American concepts similar to placement of day between month and year in writing dates, or American football, which is actually not about foots and not about ball (mellow-shaped thing is used), or pounds, or foot/feet, etc.

    1. I knew a Brit once. She had those teeth that we all know and love… And she always had something to say about America. I liked her… But I finally de-friended her, as she had nothing left to say that excited me.

      1. Anyway, I find these little details of American culture to be very colourful. It would be boring if everyone in the world lived according to single standard, even if it is more logical.

          1. I suppose you’re right, on your planet.

            Whereas some countries like to put the day first, followed by the month and year. Which seems more logical to me.

            I mean, I already know what the month and year are, so having the day come first makes perfect sense.

            Just like it makes more sense to precede the date with the time, which is even more relevant than the day, for those living in the moment.

            To each his own, but if you want to get along, stop insisting there is only one way to do things.

            1. Exactly. Ten days into April, I’m already thoroughly informed about what the month is and what it’s going to be for another 20 or so days. Just seems inefficient to put the information most needed at that particular point AFTER information that almost all people already know.

          2. That is the point as to why the month comes first. In Russian they say the day first, so you ask someone for a date and they say “3rd of March” but they never say “March 3rd” but in English its usually “March 3rd” in that order, so therefore the poster above is quite correct as to why we put the date with the month first.

    2. Yes, so this “cash” concept is being blogged about by Horace Dediu, who lives in Romania, and once worked for Nokia. Why are you assigning this to America?

    3. Cash is being used as shorthand for cash and marketable securities – liquid assets. Some of it is undoubtedly stored in banks (computers) to handle daily business or cash flow, although you would argue (correctly) that very little of it is hard currency. Semantics…

      If I could dump feet and pounds, I would. But you need to stop using kg as a unit of force. How many Newtons do you weigh?

    4. our custom of writing month day year goes back to our declaration of independence – europeans used day month year and this was just one more symbol of our independence – july 4, 1776!! i am so happy this annoys you!!

      1. This is actually one of my pet peeves. I am in favour of the “rest-of-the-world” system of writing dates as day-month-year. There is a logic to it – the fastest-changing number is in front and the slowest-changing at the end. But more than that, it seems there really is no system in North America in day-to-day use. I’ve seen month-day-year, year-month-day, and of course day-month-year. And that becomes even more confusing when the year is shortened to two digits e.g 11/6/11. Sometimes the only way to make sense is to recognise that if one of the numbers is more than 12, it couldn’t be the month!

        1. All these useless idiotic systems irritate me. You’re all computer users. A date should be simply sortable in a bigendian way, as follows

          20110426 (Today).

          Months should be alphabetical, if they are phonetic at all.
          The rest of the world is wrong. I’m provably right.

          (actually, the real reason that the US is MM/DD/YYYY is the structure of English — you’d say March 1st. In French, Portuguese, Spanish, Italian, German …, the day is properly set first. Britain does time and restaurant menus in such a way as to mimic their neighbors.)

          1. no, the real reason is the declaration of independence. jefferson, et al. were making a statement. and they were mostly making it to the british. it’s not an opinion, it’s in the history books.

      2. Yeah, well our military uses the Julian calendar, but we write our dates like: 110426.

        We also mark up the calendar in fiscal terms, for which our year begins on October 1st and ends September 30.

        Shall we talk time?

  2. If you take into “account” the enormous amounts of interest this cash hoard must be attracting, it could probably sustain operations for far more than 7 years!

  3. It’s always entertaining when I watch a Brit attempt to compensate for the decline of their entire empire. Their low self-esteem doesn’t make up for the fact that they are a second rate place with little to no ingenuity and are forced to produce silly weddings as opposed to innovation.
    Cheers.

  4. All this blather about dates and nobody mentions the misuse of the word “enormity?”

    And let’s not get into the silliness of arguing that the “?” should or shouldn’t be inside the quotation marks in my last sentence.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.