“Apple has a good problem,” Matt Krantz reports for USA Today. “It can’t get rid of its cash fast enough.”
“The digital gadget maker’s cash and investments during the quarter jumped to $206 billion — a staggering 33% increase from the same period a year ago,” Krantz reports. That’s “enough cash to give every American $646 apiece – which is remarkably close to the retail price of an iPhone.”
“Apple’s cash continues to mount – even though it keeps trying to get rid of it. The company returned $17 billion to investors during the quarter in the form of stock buybacks and dividends,” Krantz reports. “Apple has now paid out $143 billion of the $200 billion it said it would give to investors.”
Read more in the full article here.
MacDailyNews Take: Apple currently has more cash on hand than Intel is worth – with $42 billion left over (enough to buy Sony and still get back $9 billion in change).
Bonus: In the full article there’s even a bit of poppycock tacked on the end about Apple’s other products not performing like iPhones, as if any other product from any other company on earth ever has.