Apple Sitting on $137.1 Billion in Cash
Between having its stock in free-fall and reporting less-than-inspiring holiday quarter earnings, the last few months have been rough for Apple. But judging by the company's bank account, there really isn't all that much to worry about.
Apple, as it turns out, is sitting on more cash than HP's annual revenue and Vietnam's GDP.
Following today's AAPL beat-down after Apple's earning call, Romain Dillet of Tech Crunch sought to put Apple’s "amazing cash on hand numbers" into perspective. In other words, despite the recent barrage of bad news hounding Apple's Wall Street preeminence, Apple now has $137.1 billion in cash reserves. That's a 12.9 percent increase from the $121.3 billion Apple had in reserves as of the last earnings report.
"Samsung Electronics’ annual revenue is a bit higher than that," Dillet says, "as it is expected to reach around $180 billion for the fiscal year of 2012. But Apple is still dominating its competitor when it comes to cash."
If you simply watched the after-hours ticker on AAPL today and skipped reading the actual earnings report, you may not realize that the holiday quarter wasn't as dismal for Apple as the investor reaction seems to warrant. On Wednesday, Apple revealed earnings of $13.1 billion on record sales of 47.8 million iPhones, 22.9 million iPads and 4.1 million Macs. Revenue also climbed 18% to $54.51 billion, although analysts had expected $54.73 billion.