Andre Yoskowitz
25 Jan 2012 19:27
Yesterday, we reported that Apple's strong earnings had sent the company's hoard of cash to an unprecedented $97.7 billion.
Bloomberg has a fantastic article on what Apple could do with the money (none of which are logical, of course) and it also put the amount of money in perspective.
First, the news site says Apple could effectively bail-out Greece, by paying its debt payments for the next two years. Greece, which is on the verge of bankruptcy, has been bailed out twice by its European Union counterparts, but remains in trouble.
Secondly, Apple's revenue for this quarter, alone, was 4 times larger than South African nation Zambia's annual GDP.
Third, Apple now has a market value larger than Exxon Mobil, which literally prints money with its oil sales and has more cash.
Fourth, Apple's cash is larger than the combined market value of Boeing, Alcoa and Travelers, three of just thirty companies that make up the Dow Jones Industrial Average, the most watched stock market index.
Fifth, Apple could go out and purchase 2000 tons of gold right now at current spot price. The weight of the gold would be the same as 10 blue whales, the largest animals to ever exist on this planet.
Finally, Apple sold more iPhones per day last quarter (for a total of 37 million) than children were born in the world during the same period.