Apple is a really big company and you should know that by now.
It has loads and loads of cash stored in secret warehouses, banks, at
the headquarters and probably on some other planet too.
A recent estimate by
Moody’s Investors
show that Apple has about $74 billion in overseas cash reserve. That is
also the highest amount off a huge list of U.S Tech companies including
Microsoft,
Oracle, Qualcomm etc. Microsoft has $50 billion in overseas cash
reserves, Cisco has $42.3 billion, Oracle and Qualcomm follow with $25.1
billion and $16.5 billion respectively. Apple had $64 billion in cash
reserves last December 2011 and that number was around $35 billion
around December 2010. $74 billion is a huge increase, don’t you think?
Half of the overseas cash reserves for all U.S businesses comes from
tech companies and Apple plays a major part in this. If you count Apple
out of the overseas cash reserve growth, then the percentage is around
15. Include
Apple
in the list and that number gets bumped to 31 percent, which is
massive! That’s how much of an influence Apple has on U.S tech
businesses and on overall U.S business overseas cash reserves. And this
is in the first three months of 2012, there’s much more that has not
been accounted for.
This
pile of money represents $15 billion and is 60 feet high, 150 feet
long, and 62½ feet deep. Now multiply these numbers by 5, which roughly
represents Apple’s overseas cash reserve.
Apple has also moved up to 55th rank from 111th in the
Fortune Global 500
list for fiscal year 2011. The company made a 23 percent profit from
last year’s (2010) numbers, helping it move up 86 spots this year. Apple
has made a total revenue of $108.249 billion and total profit of
$25.922 billion this year, and the year is not over yet. The company
will be announcing new products later this year, which will help boost
these numbers and take the company even higher. So, when this list is
next updated, Apple will be much higher in ranking and will have made
more profit than ever.
Apple is the currently the worlds biggest company in terms of market
value. With so much money in the bank, they can do anything they want!
If you have $74 billion sitting in overseas cash reserves what would you
do with the money? Share your responses in the comments section.
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