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A friend of mine was intering at Apple this summer and during the last week he went to a talk regarding this topic. The rational is that they've always needed a
by wasd 15y ago
A friend of mine was intering at Apple this summer and during the last week he went to a talk regarding this topic. The rational is that they've always needed a lot of cash on hand because Apple takes a lot big risks with its products and that lot of the cash is acquired overseas so its expensive to bring it back to the US. Just some food for thought.
- beatle 15y agoyou got this info from an intern who got this information from a talk from some guy other than the CEO/CFO?
- elithrar 15y ago> you got this info from an intern who got this information from a talk from some guy other than the CEO/CFO? The way he "sourced" this information might be questionable, but most of it is indeed true. Apple do have large cash reserves overseas[1], and they have inferred (if not directly said) in earnings calls that their large cash hoard gives them the ability to be agile when it comes to manufacturing. [1] In fact, they are petitioning the US—along with many other large corporations—to allow them tax breaks so they can bring their earnings back into the country without paying significant amounts in tax.
- wasd 15y agoI'm pretty sure it was Tim Cook who gave the talk but because I don't remember exactly, I didn't cite.