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Apple's Year End Cash Equivalent Of $97.6 Billion Makes It The 58th Largest Economy In The World

Tyler Durden's picture





 

After generating $37.9 billion in cash, short and long-term equivalents in 2011, and a record $16 billion in Q4 alone (of which $11.8 billion in Long-Term Marketable Securities: Treasurys? Pretty soon Apple will be a bigger monetization force than the Fed), the company's total cash and equivalents horde is now just shy of $100 billion, or $97.6 billion. And with cash growing at 20% in the quarter, extrapolating into the future, means that the company will hit $1 trillion in cash by Q1 2015. Looked at otherwise, if Apple were a country, and its cash was equivalent to GDP, it would rank as the world's 58th largest economy, above such countries as Slovakia, Iraq, Luxembourg, and Syria. At least now we know where all that money that is not going to pay mortgages, is going. Next question: how long until uncle Sam demands windfall tax, or until the FoxConn workers learn to read press releases and politely request a pay raise or they all jump?

 


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Tue, 01/24/2012 - 17:47 | Link to Comment slaughterer
slaughterer's picture

I want to live in the Republic of Apple from now on.  

Tue, 01/24/2012 - 17:55 | Link to Comment VanillAnalyst
VanillAnalyst's picture

bet it would be just like the smug pollution episode of south park. Screw Apple and their bullshit hipster meets technology business model. MSFT EXCL FTW.

Tue, 01/24/2012 - 18:08 | Link to Comment slaughterer
slaughterer's picture

So angry, whereas AAPL ...  so successful and rich. 

Tue, 01/24/2012 - 18:36 | Link to Comment Kick_the_Kan
Kick_the_Kan's picture

great for them to be accumulating all this cash but I wouldn't be too happy if I was a shareholder and some of it didn't get returned as dividends.....thats a lot of cash to have parked in low yielding treasuries or interest bearing accounts with real inflation eating away at it at the rate of 10% per annum 

Tue, 01/24/2012 - 18:53 | Link to Comment Manthong
Manthong's picture

Hmmm.. 

At over $400 Billion, AAPL is worth about $50 Billion more than that little stash of gold the Fed has at 33 Liberty Street.

Or is it?

Tue, 01/24/2012 - 19:40 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Apple is building an elite military, and plans in invading large chunks of Afghanistan, China and Tibet, in a bold move to ensure a steady supply of rare earth metals.

Building a military force capable of taking and holding these areas will be a cash burn intensive endeavor.

Hedge accordingly.

Tue, 01/24/2012 - 20:14 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

they already have the U.S. military backing them up free of charge!

Wed, 01/25/2012 - 00:28 | Link to Comment johnu1978
Tue, 01/24/2012 - 20:18 | Link to Comment HedgeAccordingly
HedgeAccordingly's picture

yes hedge accordingly 

Tue, 01/24/2012 - 20:35 | Link to Comment Dingleberry
Dingleberry's picture

Why can't I get some Chinese slave labor? Damn, that is serious money......

Tue, 01/24/2012 - 20:37 | Link to Comment pkea
pkea's picture

who needs to buy 37 million iphones per quarter? the people are stupid and you can surely count on that:)

Tue, 01/24/2012 - 17:46 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

I wonder if they'd be interested in buying some italian bonds...

no?

Greek bonds?

 

Tue, 01/24/2012 - 17:54 | Link to Comment CClarity
CClarity's picture

I think we need them to keep buying USA.  If people are worried about Greek or Italian debt, just imagine what hell would break loose if US debt buyers, I mean "investors", dry up?

Tue, 01/24/2012 - 18:40 | Link to Comment Manthong
Manthong's picture

"Greek bonds?"

Um.. I think they can buy the country outright.

I'm just ticlked pink that we now have confirmation all the problems of the world are solved.

Tue, 01/24/2012 - 18:59 | Link to Comment Buttertooth
Buttertooth's picture

While reading your comment on Apple buying Greece outright, I couldn't help but imagine an old sci-fi movie from the 70's.  The ancient ruins of the greeks delicately decorated with the latest technological gadgets. Polyester clad men and woman, careless and unafraid, roam the stone streets.   

Tue, 01/24/2012 - 19:05 | Link to Comment Roy T
Roy T's picture

As I said on the other post, next I'd like to see the IMF go begging to AAPL after China and Brazil to help increase their firepower.

Tue, 01/24/2012 - 17:47 | Link to Comment fonzannoon
fonzannoon's picture

I don't know why it took me so long to realize that if you are short a market that has tsunami after tsunami of liquidity rolling in you will get crushed.

Tue, 01/24/2012 - 17:53 | Link to Comment SheepDog-One
SheepDog-One's picture

What 'liquidity' is rolling in where? Isnt Apple supposed to be paying dividends instead of hoarding cash as a public company?

Tue, 01/24/2012 - 18:36 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Silly Sheepdog, Apple is not an income stock, it is a growth stock, just like UNH, AET, WLP, CI, CVH, and HUM.  These growth stocks all focus on growing revenues every quarter so that the management can meet the bonus requirements.  This is hard to do, because they must either get more customers/sales like Apple, or raise the price of the product while decreasing expenses, just like these health insurers are all doing.  Now do you see why these growth companies all have such high PE ratios? 

Tue, 01/24/2012 - 17:54 | Link to Comment disabledvet
disabledvet's picture

Your timing would have to be perfect shorting this market three years running. Since that's impossible you are obviously a liar. But that's okay.

Tue, 01/24/2012 - 18:00 | Link to Comment fonzannoon
fonzannoon's picture

Who has perfect timing and who is shorting the market 3 years running and why is lying? Sorry no idea what you are talkng about. But thats okay.

Tue, 01/24/2012 - 18:02 | Link to Comment SheepDog-One
SheepDog-One's picture

And youll find out the same too one of these mornings when the FED pulls the rug out and chops off all these arrogant bulls nuts, you cant 'time' it when youre dealing with market manipulating supercomputers. 

Tue, 01/24/2012 - 18:03 | Link to Comment fonzannoon
fonzannoon's picture

it won't end well. But it seems like a losing proposition betting against them in the meantime.

Tue, 01/24/2012 - 18:07 | Link to Comment SheepDog-One
SheepDog-One's picture

Well I said long ago Im not betting against them at all other than buying gold and silver.

Tue, 01/24/2012 - 18:10 | Link to Comment fonzannoon
fonzannoon's picture

I will admit I am totally lost on the apple story. I just don't see how that many people have that kind of cash to piss away on a phone that allows you to check your facebook account. I guess I will never get that.

Tue, 01/24/2012 - 18:23 | Link to Comment SheepDog-One
SheepDog-One's picture

Other than people with extra money from not paying their mortgages anymore, I dont know where the cash comes from. 

Tue, 01/24/2012 - 18:29 | Link to Comment IndicaTive
IndicaTive's picture

Because it makes it easy to be a "tekkie," or at least look like one.  No intelligence required. And when it breaks, you get to go to a hip and trendy Apple Store where they treat even the most obvious of idiots like they are geniuses and fix it for them for $200 minimum. Never underestimate the premium people will pay you to dumb it down for them. Fucks sake.

Tue, 01/24/2012 - 17:48 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Luxembourg would be a nice acquisition for them.  Would pass on the rest of them............

Tue, 01/24/2012 - 18:37 | Link to Comment Elwood P Suggins
Elwood P Suggins's picture

Yeah they could fire that asshole Juncker.

Tue, 01/24/2012 - 17:49 | Link to Comment fonzannoon
fonzannoon's picture

"At least now we know where all that money that is not going to pay mortgages, is going"

In America you can stop paying your mortgage, stay put in your house for several years before the bank gets around to you, and have plenty of money to piss away on Ipadpods.

Tue, 01/24/2012 - 17:49 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

Where is Reggie and his nonsense, I want an apology.

Tue, 01/24/2012 - 23:08 | Link to Comment hotkarlandthecl...
hotkarlandtheclevelandsteamers's picture

What are you talking about Reggie shorted in AH at 461 and closed it out at 451.  The big black man will be on hear with a post pumping his chest telling us how he all told us so.

Tue, 01/24/2012 - 17:49 | Link to Comment The Axe
The Axe's picture

How can analsist be that off...lol

Tue, 01/24/2012 - 19:09 | Link to Comment ForTheWorld
ForTheWorld's picture

Well, with the application of topical alcohol and the swift movement of a scalpel, any analsist can be off, like that.

Wed, 01/25/2012 - 10:46 | Link to Comment falak pema
falak pema's picture

being anal is not banal, but is it sistemic risk?

Tue, 01/24/2012 - 17:51 | Link to Comment alien-IQ
alien-IQ's picture

If Apple were a country...America would probably find an excuse to bomb it into the stone age.

Either that or they'd force them to join the Euro.

Tue, 01/24/2012 - 18:17 | Link to Comment Goldilocks
Goldilocks's picture

Yah, no kiddin’... makes yah wonder if the PTB have a symbiotic relationship with Apple, via the i-spy phone.

Wed, 01/25/2012 - 10:41 | Link to Comment falak pema
falak pema's picture

I wonder how much Apple has to pay to not get milked by Congress, given the budget deficits, that keep up with Apple's profits; but in backwardation waltz not contango tango; apart from handing out its shares free be to TPTB. O'bammy loves Mrs Jobs, and I think she will now have her hands full making appearances for O'bammy on election trail. Luckily for her, he is no Bill C or Newt G, or she would be out of mourning and into pink panties before you could say "yes we can!" on their behalf. She should not stay single for long. There will be a long horn to sing her a morning song, I'll eat my Ipad, if that is proven wrong!

Tue, 01/24/2012 - 17:51 | Link to Comment Belarusian Bull
Belarusian Bull's picture

Soon, Apple will be able to buy Greece. With cash upfront.

Tue, 01/24/2012 - 17:56 | Link to Comment prains
prains's picture

Soon, Apple will be able to buy Greece. With cash upfront.

 

soon it'll be able to buy california for a case of fartknuckles

Tue, 01/24/2012 - 18:17 | Link to Comment Belarusian Bull
Belarusian Bull's picture

So, time to long fartknuckles(whatever they are)?

I want a california as well.

Tue, 01/24/2012 - 20:53 | Link to Comment prains
prains's picture

Trade them at your peril

 

Point taken, this is a trading blog but from what I read here at ZH we're down to farting on our hands

and trading the smell, nothing left to do but watch people exit the room. Hence, fart knuckles

Tue, 01/24/2012 - 17:52 | Link to Comment youngman
youngman's picture

It makes me laugh..but Apple is a very liberal company....but yet it manufacturs in China mainly.....but no problem with the liberals on that..and they gouge you with the price...greed comes to mind...but that is ok with the liberals...its only bad if you are an oil company or health company....what a double standard....Apple has destroyed many business´s ..but that is OK too...its Apple...buy away...its a religion...but liberals don´t like that either....

Tue, 01/24/2012 - 17:56 | Link to Comment alien-IQ
alien-IQ's picture

Would you be happier if people used stone tablets and a chisel?

Come on man, really? Does everything have to boil down to this ridiculous liberal/conservative/democrat/republican nonsense?

It's a fuckin computer for god sake.

Tue, 01/24/2012 - 20:55 | Link to Comment Arthur
Arthur's picture

Very true.  

Always liked Apple but they cost more and until recently Apple products did not play well in Microsoft dominated office environment.   If  I wanted to take work home I had to have a windows based machine in past years.  Now it has changed.  Apple cultivated a cult feel/brand loyalty and it worked because they also built a superior integrated products.

liberal /conservative has nothing to do with anything unless one to use the poor anaolgy of microsoft as conservative and apple as liberal bu then what the heck are linux and android/google based products?

Tue, 01/24/2012 - 17:56 | Link to Comment disabledvet
disabledvet's picture

"greed is good. But we're selective...

Tue, 01/24/2012 - 18:00 | Link to Comment LetThemEatRand
LetThemEatRand's picture

you are an incredibly simple-minded fella, aren't you?   how does your worldview handle the fact that a "liberal" company is so hugely successful?

Tue, 01/24/2012 - 18:12 | Link to Comment youngman
youngman's picture

"how does your worldview handle the fact that a "liberal" company is so hugely successful?"

Thats the point I am making...I do not have a problem with it...but tonight you will hear all about the wealthy fair share....and how oil companies gouge...and health companies gouge..and insurance companies gouge...but to me ...Apple gouges more....but yet not a peep out of a liberal for it....I am all for success and I am all for not being shit on because you are succesful...maybe you liberals can learn something from Apple...and let the rest of us go and do what we think is best....

Tue, 01/24/2012 - 18:21 | Link to Comment Sheriff Douchen...
Sheriff Douchenik from AZ's picture

+1 youngman...u hit the nail on the head with liberal double standard regarding Apple...that said not a company I'd short anytime soon.

Tue, 01/24/2012 - 18:21 | Link to Comment SheepDog-One
SheepDog-One's picture

Apple...where liberal douchebags throw all their high minded ideals to the winds and glom onto slave labor built overpriced religious cultist gizmos they largely dont need.

Tue, 01/24/2012 - 18:26 | Link to Comment Cdad
Cdad's picture

LOL!  

So as the Chinese slave laborers jump from the roof tops to avoid having to work for Apple, dumb ass Americans not paying their mortgages blow cash on devices that are ALL largely redundant...as criminal syndicate Wall Street bankers sell the news in size from the first minute the shares were unhalted. 

Here come the dumb asses on the BlowHorn [CNBC] to tell any fool who will watch how this indicates upside for the stock market.  It all makes perfect sense...when you are living up the Banana Republic Tree.

Recovery!

Tue, 01/24/2012 - 18:52 | Link to Comment francis_sawyer
francis_sawyer's picture

We live in a Banana Republic... & YES... we have no bananas...

Tue, 01/24/2012 - 19:01 | Link to Comment dwdollar
dwdollar's picture

Yep!

"largely redundant" is how I describe the Apple product line. Except I would insert "overpriced" in front of that...

Apple is a train-wreck waiting to happen. It is the next RIMM, just wait and see.

Tue, 01/24/2012 - 18:23 | Link to Comment tekhneek
tekhneek's picture

Too... many... ellipsis.... cannot... concentrate... on... message... being... conveyed... I... have... a... headache... now...

<3

 

Tue, 01/24/2012 - 18:46 | Link to Comment NotApplicable
NotApplicable's picture

I always read comments like that in Shatner's voice.

Tue, 01/24/2012 - 19:31 | Link to Comment LetThemEatRand
LetThemEatRand's picture

You really need to get out more.

Tue, 01/24/2012 - 19:25 | Link to Comment ForTheWorld
ForTheWorld's picture

If anyone listened to Pay Day Today, they'd be a happy camper now:

http://www.zerohedge.com/news/goldmans-latest-trade-recommendation-sell-...

Tue, 01/24/2012 - 17:54 | Link to Comment The Axe
The Axe's picture

I am shocked that it is only up 36 dollars.....crazy

Tue, 01/24/2012 - 17:55 | Link to Comment monopoly
monopoly's picture

Well, it was 14 weeks, back out 2 weeks and I think that is your answer why it is not up more. But you cannot take anything away from this company. Imagine a country running this well. lol

 

 

Tue, 01/24/2012 - 17:56 | Link to Comment Tsunami Wave
Tsunami Wave's picture

But AAPL should pay its fair share!!

 

</sarc>

Tue, 01/24/2012 - 18:04 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yuppies buy Apple because it is so hip

Yuppies are so hip

Chinese workers jump for joy!

Tue, 01/24/2012 - 18:34 | Link to Comment alien-IQ
alien-IQ's picture

I didn't realize people still used the word "yuppie". That's way groovy daddy-o.

Tue, 01/24/2012 - 18:34 | Link to Comment Cdad
Cdad's picture

Do you even know what a Yuppie is?  If you did, you would know that they are a dying breed...population in decline.  

Tue, 01/24/2012 - 18:47 | Link to Comment NotApplicable
NotApplicable's picture

Funny how debt service costs work.

Tue, 01/24/2012 - 17:58 | Link to Comment Dreadker
Dreadker's picture

I heard Apple will impose Oil & Trade sanctions on everyone if they continue developing primary wealth and don't buy iPads...

Tue, 01/24/2012 - 17:58 | Link to Comment LouisDega
LouisDega's picture

Are those raindrops i just felt on my parade?

Tue, 01/24/2012 - 18:00 | Link to Comment littleenglander
littleenglander's picture

Wow that's a lot of future landfill!

Tue, 01/24/2012 - 18:05 | Link to Comment SheepDog-One
SheepDog-One's picture

Too bad a billion dollars sure aint what it used to be...so basically Apple has a few FED POMO operations, or about a weeks worth of new US debt created...big deal.

Tue, 01/24/2012 - 18:50 | Link to Comment NotApplicable
NotApplicable's picture

Hey, somebody has to back up Brian Sack every once in a while.

I just wonder what sort of political ROI they are getting for helping Benron do the laundry?

My prediction? Ipads for all gov weenies, mid-level on up.

Tue, 01/24/2012 - 18:05 | Link to Comment PicassoInActions
PicassoInActions's picture

all is good now, lets see what they have in the pipe line.... Ipad 3 may give a boost, next iphone in october, holiday season is over... it may not be that bright from now on.

Tue, 01/24/2012 - 18:07 | Link to Comment FreeMarketBuff
FreeMarketBuff's picture

With 100 Billion you can pay off half the legislature...

Tue, 01/24/2012 - 18:08 | Link to Comment yogibear
yogibear's picture

When they have a workforce of 8,000 slaves they can wakeup at midnight to produce I-Phones, I-Pads

 and Mac how can you beat that? 

Tue, 01/24/2012 - 18:07 | Link to Comment css1971
css1971's picture

This is their zenith.

From here on in it's sequels.

Tue, 01/24/2012 - 18:09 | Link to Comment Village Smithy
Village Smithy's picture

In terms of behavioural economics it makes perfect sense. The people are scared and lacking in confidence and individualism, as a result they huddle and seek external guidance.  Darwin would say that this behaviour conditioned the tribe so that it could be efficiently delivered from harrowing times by the rise of a great leader. In the modern day we go to the mall and buy brands so we feel like we have a common purpose. Meet your great saviour, it comes in a neat white box.

Tue, 01/24/2012 - 18:19 | Link to Comment Belarusian Bull
Belarusian Bull's picture

Glory to the Ilord!

Tue, 01/24/2012 - 18:56 | Link to Comment NotApplicable
NotApplicable's picture

"Don't worry, it's for your own good."

This is going to get really interesting as government bodies outsource their IT operations to Google.

Tue, 01/24/2012 - 18:11 | Link to Comment Scalaris
Scalaris's picture

unibody capitalsim bchz - the iWay

Tue, 01/24/2012 - 20:02 | Link to Comment pakled
pakled's picture

iWay or the Hiway.

 

Fixed it for ya. ;>

Wed, 01/25/2012 - 05:33 | Link to Comment falak pema
falak pema's picture

your money or your wife becomes : your iphone or your ipad!

Tue, 01/24/2012 - 18:18 | Link to Comment Zola
Zola's picture

In a free market this would not happen. The CNY should rise and hit profit margins of AAPL. And labor should stop accept being treated as slaves and demand pay raises.

Tue, 01/24/2012 - 21:07 | Link to Comment Milestones
Milestones's picture

Might be interesting to see the same done here first. Its time for the merikans to put their $ where their advise is.      Milestones

Tue, 01/24/2012 - 18:22 | Link to Comment moroots
moroots's picture

While there may not be a "windfall" tax, there actually is an existing tax that supposedly prevents companies like Apple from accumulating that much cash.  Not suprisingly, this tax is called the "accumulated earnings tax".  It only applies to C-Corporations.  The IRS can accuse corps of "hoarding" cash and if the IRS is successful (meaning the respondent corp can't prove that it isn't hoarding), a tax of 15% is applied to all assets determined to be in excess of what the business needs for working capital, business expansion, etc.  As with all tax-related litigation, the burden of proof is on the respondent to prove that the assets are necessary, again, for working capital, expansion, stock buy backs, dividends etc.

If there's a way to fleece successful businesses, you can assume Congress and the IRS have already thought of it.

Tue, 01/24/2012 - 18:33 | Link to Comment ekm
ekm's picture

AAPL is a scam. No dividend and Steve Jobs then and the others now are hoping to lure everybody to bid the price up to gain...............nothing for the investors but a lot of insiders. A big company without divident is simply and purely a scam that relies on suckers.

Tue, 01/24/2012 - 19:28 | Link to Comment TrickyEcono
TrickyEcono's picture

what does it mean "if cash were equivalent to gdp?"     do you understand that this statement is nonsense? 

Tue, 01/24/2012 - 18:48 | Link to Comment taniquetil
taniquetil's picture

Bearish

Tue, 01/24/2012 - 18:57 | Link to Comment SRVDisciple
SRVDisciple's picture

 Just think what would happen if they opened up a Men's Department at all the Apple stores ...

Tue, 01/24/2012 - 19:44 | Link to Comment poor fella
poor fella's picture

Damnit!! I just spit my beer and farted at the same time!

Tue, 01/24/2012 - 19:48 | Link to Comment poor fella
poor fella's picture

Coach beat too - seeing strong demand in products for men....   ?

That's A LOT of toiletry bags.

Tue, 01/24/2012 - 19:21 | Link to Comment ZeroPower
ZeroPower's picture

Pretty sure Reggie has a negative thesis on this stock since 2Q11...

Tue, 01/24/2012 - 19:57 | Link to Comment pakled
pakled's picture

I would feel really good about Apple's success.....

 

If it wasn't for the recent reports about working conditions at the Chinese factories where the products are made.... suicide nets around buildings. Workers spending days on rooftops, threatening to jump unless conditions improve. Workers living in 6 person dorm rooms and not knowing each others name. Will we buyers of Apple products take to the streets (or lock down our wallets) in protest? If not, why not?

Tue, 01/24/2012 - 21:50 | Link to Comment ucsbcanuck
ucsbcanuck's picture

Dude, come on! Check your morals at the door :-)  

The anti-globalization crowd and the hipster douchebags already did so. Bunch of hypocrites "Oh dear beloved leader Steve Jobs has passed away".

Let's cut the hypocritical crap - AAPL is a business. People keep AAPL in business by buying their products. AAPL keeps their costs down by outsourcing their manufacturing to FoxConn. AAPL doesn't own the factory, FoxConn does.  

That's all and that's it. 

And here's another thing to consider - let's say AAPL dropped FoxConn and went somewhere else. What happens to the FoxConn workers then? Go back to the countryside to starve?

 

Wed, 01/25/2012 - 06:12 | Link to Comment prole
prole's picture

let's say AAPL dropped FoxConn and went somewhere else.  What happens to FoxConn workers then?

Let them eat cake!

What happens to the workers is not the concern of the "anti-Capitalist" moral superior chest thumpers. They want to man their barricades and wave the red banner.

BTW "if" and I say "IF!" conditions are so horrific at this FoxConn, why don't the persons who CHOSE to work there QUIT! HELLO!!! Are they imprisoned there? Is Steve Jobs alive and kidnapping Chinese people himself?

Quit if it sux so bad/ I didn't think so.

I've had jobs that sucked but I quit I didn't kill myself (Yet, I'm not better than anyone else) and not one single global news organ gave a flying fvck if my job sucked. Where were they when my job sucked?

Tue, 01/24/2012 - 20:14 | Link to Comment Mad Cow
Mad Cow's picture

iDIOCRACY

Tue, 01/24/2012 - 20:15 | Link to Comment Offtheradar
Offtheradar's picture

Who the hell needs to keep that much cash?  Flush it to the shareholders already. 

Tue, 01/24/2012 - 22:13 | Link to Comment ucsbcanuck
ucsbcanuck's picture

You can buy up startups, IP portfolios etc without having to go into debt. Helps you ride out the bad times as well.

Wed, 01/25/2012 - 08:12 | Link to Comment DanDaley
DanDaley's picture

You just know Obama is salivating over that cash and thinking nationalization and redistribution to the have-nots...Apple and others.

Tue, 01/24/2012 - 20:18 | Link to Comment Bunga Bunga
Bunga Bunga's picture

Also extrapolating into the future in 2026 Apple's revenue at 66% growth will be bigger than the world's GDP at 4% growth! It means Earth would not even exist then without Apple.

 

 

 

 

Tue, 01/24/2012 - 20:24 | Link to Comment francis_sawyer
francis_sawyer's picture

ain't math fun?

Tue, 01/24/2012 - 20:38 | Link to Comment yogibear
yogibear's picture

No need to worry about Foxconn's workers demanding of the pie. The Chinese will just throw the  slaves in jail for years if they organize or protest. Foxconn will just get more Chinese slaves to replace them. Millions more Chinese to replace them. 

Foxconn's CEO called his workers animals.

The bosses  wake the slaves  up from their dormitories  (8 slaves in each dorm) at any time to start working when Apple needs more production. 

Apple has a good deal, slave labor for a 12 hour day at $17.00 per slave. When Foxconn's Chinese workers commit suicide there are millions more to repalce them. 

Tue, 01/24/2012 - 20:44 | Link to Comment pkea
pkea's picture

someone gotta start a lawsuit against AAPL for cooperating with companies with unethical labor force treatment

Tue, 01/24/2012 - 21:53 | Link to Comment ucsbcanuck
ucsbcanuck's picture

So OK, let's say AAPL drops FoxConn. How does that help the FoxConn workers? What do you want them to do? Go back to their villages and starve?

Tue, 01/24/2012 - 22:18 | Link to Comment moroots
moroots's picture

It's not outside the realm of the libertarian playbook to use tarriffs as a means for punishing countries that mistreat their workers or countries that pollute too much or governments that dump a shitload of subsidies.  Of course the U.S. can't do this since China owns all our debt, but in an ideal world with little/no nat'l debt(or even better soveirgn money) the U.S. would have the flexibility to punish the Chinese for being inhumane. In the most prosperous periods of U.S. history, tarriffs and excise taxes funded the entire government, and there were even some surpluses.

Wed, 01/25/2012 - 06:19 | Link to Comment prole
prole's picture

It's not outside the realm of the libertarian playbook to empower bureaucrats, on their break from molesting children at airports, to use the ruse of "tarriffs" to enrich fat-cat insiders and stuff their own pockets while talking down to their own serfs informing them how lucky they are to have such superior minds to lord over them. You're not a terrorist are you?

Tue, 01/24/2012 - 23:33 | Link to Comment chunkylover42
chunkylover42's picture

meh.  this is a stock vs. flow comparison, so it's not really useful.  better to consider the $38bn of cash generated during the year, which would place them as the 83rd largest economy in the world.  still impressive.

Wed, 01/25/2012 - 01:22 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

You could hire a private army with that kind of flow...

Wed, 01/25/2012 - 01:52 | Link to Comment Yen Cross
Yen Cross's picture

Excuse me? He He/  Wrong thread. I was just watching my toilet flush.

Wed, 01/25/2012 - 03:06 | Link to Comment boeing747
boeing747's picture

Apple shall use its cash pig to buy entire Bank of America so in future Apple becomes too big to fail if iphone6 fails.

 

Wed, 01/25/2012 - 05:34 | Link to Comment falak pema
falak pema's picture

where is RM on this? Paging Mr Reggie Middleton, paging...

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