Apple’s Cash Reserves Reach Epic Proportions
Notwithstanding the tumultuous tumble endured by shares of AAPL since last October, Apple’s cash reserves continue to underscore the company’s unyielding command of its industry today.
MMW reported Wed. afternoon that Apple saw holiday quarter 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.
Through it all, Apple still manages to sit on a mind-boggling amount of cash. For that reason, Romain Dillet of Tech Crunch is striving to put Apple’s recent PR and Wall Street black eyes into perspective.
As of this writing, Apple retains $137.1 billion in cash reserves. That’s a 12.9 percent increase from the $121.3 billion Apple possessed during the previous earnings report.
In 2012, HP had $120.4 billion of annual revenue. Apple slightly edges HP’s revenue with its cash. Even more impressive, Apple has slightly more cash than Vietnam’s nominal GDP of $123.6 billion.
“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.”
