Quote:
Originally Posted by Don Ro
Apple Has a Record $261.5 Billion in Cash | Fortune.com
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"The company's quarterly revenue was $45.4 billion, with growth across all product categories, said Apple CFO Luca Maestri. According to CNBC, the company's cash pile is a record $261.5 billion.
After the announcement was made, amazement at the number of cash ricocheted across social media, with many noting the different things that number could buy."
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That was strange, because those claims are not consistent with the truth. The numbers reported every quarter to the US gubmint by apple are much, much different than those claimed. Didn't make sense. So I did some digging into the financials and believe i have made sense of it.
Last quarter they had about 20 billion in cash, maybe it's grown to $25 bbl by now.
Doubt it, because the CFO says
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Apple's new record cash pile is up 13 percent year over year.
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Here's the secret:
Quote:
Chief financial officer Luca Maestri told analysts that $246 billion of this cash, or 94 percent of the total, was outside the United States.
The company has invested in a wide range of businesses worldwide: A new store in Dubai has been a centerpiece of Apple's new retail strategy, noted on a conference call with analysts, while iPad sales during the quarter saw double-digit increases in key markets such as the U.S., Japan, Germany, France and greater China, CEO Tim Cook said.
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Now if we look at apples numbers reported last quarter (they haven't submitted the final report yet for this quarter) we see this: (all numbers in thousands)
Current Assets
Cash And Cash Equivalents ..............20,484,000 (twenty billion in cash)
Short Term Investments...................46,671,000
Net Receivables ..............................29,299,000
Inventory ........................................2,132,000
Other Current Assets .........................8,283,000
Total Current Assets .....................106,869,000
Long Term Investments...............170,430,000
Property Plant and Equipment.............27,010,000
Goodwill.......................................... ..5,414,000
Intangible Assets................................3,206,000
Other Assets......................................8,757, 000
Total Assets....................................321,686, 000
Total Liabilities...............................193,437, 000
https://finance.yahoo.com/quote/AAPL/balance-sheet?p=AAPL
SOMEONE doesn't know the difference between CASH and long term investments. You'd think a CFO would know that.
they say their pile o'cash has increased 13% since this time last year, but according to their own numbers, their pile o'cash went DOWN about a bil from $21,120,000 to $20,484,000.
https://finance.yahoo.com/quote/AAPL/balance-sheet?p=AAPL
I don't know about you, but I can certainly tell the difference between cash and a building. I can look at a store and a dollar bill and I can tell you which one is cash and which one is not.
It's either that, or they are lying ot our gubmint and i don't think that's the case.
The only people more "creative with the truth" than statisticians are accountants.