Putting the Enormity of Apple's Cash Into Perspective

Apple’s cash for short-term and long-term marketable securities now totals $65.8 billion, according to Asymco.

Horace Dediu puts the enormity of this cash into several perspectives:

● The funds are big enough to place Apple’s CFO office in the top 100 largest fund managers in the world and larger than any hedge fund manager.
● Cash growth in one quarter was higher than the market cap of many companies. For example, if pre-payments were added back, the cash increased by about the market cap of Motorola Mobility.
● Current cash is worth more than Nokia, RIM and Motorola Mobility’s market caps, put together.
● Apple's cash is worth half of Google’s enterprise value.
● About two years ago, in January 2009 the stock traded at a price of $78 with at least one analyst placing a target of $70 on the stock. Today Apple’s cash is worth $67/share.
● If you owned $100,000 of Apple stock, $19,000 of that would be cash and only about $80,000 would be “at risk” capital.
● If Apple had no revenues, the current cash would sustain operations (SG&A and R&D) for over 7 years or until the middle of 2018.


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