WSJ: Apple Now Holds 10% of All Corporate Cash: Moody’s
QZ: Apple is sitting on 10% of all US corporate cash
Reality: Apple’s foreign and domestic cash reserves, if taken in aggregate, constitute around 10 percent of U.S. corporate cash, if you discount financial corporations.
Let’s put Apple’s amazing cash on hand numbers into perspective once again. The company now has $137.1 billion in cash — a 12.9 percent increase from the last reported number, $121.3 billion. With such a big figure, it’s hard to realize how big it actually is. In 2012, HP had $120.4 billion of annual revenue. Apple slightly edges HP’s revenue with its cash.
Facebook’s cash stash has just been depleted by presumably several hundred million dollars, given that the company’s big Z has announced on his personal page that his company has just paid $1b in cash and shares for a photo app called Instagram.
Western Digital® Corp. today announced that the board of directors declared a cash dividend for the quarter ending Sept. 27, 2013, of $0.25 per share of common stock (the “cash dividend”). The cash dividend will be paid on Oct. 15, 2013, to the company’s stockholders of record as of Sept. 30, 2013.
As it looks to return more of its accumulated past-net profit margin — cash, and so forth — to investors, Apple will again turn to debt to raise the funds needed. If that seems odd, keep in mind that most of Apple’s cash is held overseas, and to bring it home would incur a financial penalty equal to the full United States federal corporate tax rate: 35%.
Western Digital® Corp. today reported revenue of $3.8 billion and net income of $495 million, or $2.05 per share for its first fiscal quarter ended Sept. 27, 2013. On a non-GAAP basis, net income was $514 million or $2.12 per share. In the year-ago quarter, the company reported revenue of $4.0 billion, net income of $519 million, or $2.06 per share.
Earlier today the sharing economy startup world was abruptly awoken from its holiday slumber with the news that car rental giant Avis would buy car-sharing company Zipcar for $500 million. No sooner had the news gotten out, though, that some shareholders in Zipcar have cried foul.
The securities litigation firm of Powers Taylor, along with Willie Briscoe, the ex-U.S.