Apple's Cash Pile Grows
Jul 19, 2011
Apple reported its highest quarterly revenue and earnings in its history Tuesday, and as The Wall Street Journal points out, revealed that it's sitting on a $76.2 billion pile of cash.
Strong iPhone sales and bustling business in Asia helped Apple nearly double its revenue to $7.31 billion, or $7.79 per share, in the third quarter, and earnings per share outpaced analysts' forecasts by 33 percent.
So what about that stockpile of cash? Much to some investors' chagrin, dividends and buybacks aren't likely in the cards for the immediate future. The Journal points to a theorgy that the company may front the money for manufacturing new products.
See Also:
Cash Flow Optimization: Current and Emerging Techniques and Technology
