Many companies struggle everyday to just pay their daily expenses. This tough economy is not making it better for these companies. Apple on the other hand is living the dream of every major corporation, with its $147 billion stockpile as of June 30, 2013.
According to Moody’s review of Apple and 1000 other companies it rates, Apple now hold 10% of all corporate America cash (not including financial companies, like banks) which comes in at $1.48 trillion. Compared to its long time rival Microsoft, Apple has double the cash reservoirs compared to Microsoft’s $77 billion. Maybe this is why Carl Icahn, billionaire investor, is pushing Time Cook for a $150 billion stock buyback.
Having increased 81% since 2006 and with Christmas just around the corner, Apple’s cash inflow is subject to multiply — especially since they just launched their new iPhone 5s and iPhone 5c. Let’s see what this year’s holidays have to bring for Apples amass fortunes.
[via The Wall Street Journal]