Apple’s Cash Reserve worth 2/3rd of India’s Forex Reserve
Apple has reported over $256 billion in cash and marketable securities. In the previous year, Apple’s earnings report for the January-March quarter was $233 billion.
According to the rating agencies, the cash reserve possessed by the company is more than Google, Microsoft and Amazon’s total cash. Compared to Apple’s $256 billion, Microsoft has $126 billion, Alphabet has $92 billion, Amazon has $22 billion and Facebook’s quarter one earnings stood at $29.45 billion.
The reported cash reserve is more than that of the big companies in the world like Verizon, Oracle, Walmart, and Visa among others.
Interestingly, Apple’s cash reserve is 70% more than that of India’s foreign exchange reserve. As on April 28, India’s Foreign Exchange Reserves is equivalent to $371.13 billion. In addition, according to Wall Street Journal, Apple has more cash than the foreign reserves of the United Kingdom and Canada combined.
However, Apple has reported a huge debt of $88 billion. Experts predict that Apple might spend the cash to acquire entities like Tesla Motors, or Netflix or Walt Disney, and to other activities like paying off its debts, more R&D, advertising, constructing a plant in the US, compete with Amazon and Microsoft in cloud computing among others.
Month: Current Affairs - May, 2017