In its latest quarterly earnings report, Apple reported that it currently has $203 Billion cash on hand in the form of Cash, Short Term and Long Term Marketable Securities, and Cash Equivalents.
This comes despite a rather disappointing quarter by Apple standards. Sales of its flagship iPhone were lower than expected according to CNN. Additionally sales of the Apple Watch, the company's first foray into wearable technology, have grinded to a halt since its much hyped launch last April. Apple's stock took a 5% tumble Wednesday morning.
According to CNBC, Apple's stockpile of money could easily afford them the following:
- The market cap of Disney.
- Nearly 184.5 million ounces of gold (with gold approximately at $1,100 an ounce)-more than all the gold in Fort Knox.
- The GDP of the Czech Republic.
- The GDP of Peru.
- Five times the combined value of all 30 MLB teams.
- Two-hundred-seventy separate trips to the moon.
- The total net-worth of Bill Gates, Warren Buffett, Mark Zuckerberg, and Jack Ma combined.
- The equivalent of more than 2,136 Sherry Netherland Penthouses.
- Handing each person in the United States a check for $632.
According to CNN Money, Apple's staggering War Chest comes despite the company paying out huge sums to shareholders:
Apple chief financial officer Luca Maestri pointed out during the company's conference call with analysts on Tuesday that the company spent $4 billion during the quarter on stock buybacks and another $3.1 billion on dividends.That's part of a broader plan to return $200 billion in capital to shareholders through buybacks and dividends. That's something which helps keep investor Carl Icahn happy.
Analysts believe that Apple may be waiting for tax reforms in the US before it chooses to start spending some of that cash. The company, like many giant conglomerates, has been criticized for hoarding money in off shore tax havens.
