Tag Archive | "IPad"

Apple Shouldn’t iPad Balance Sheet


Thanks mostly to the iPhone, Apple’s cash and investments rose to about $42 billion as of March 31, nearly three-quarters of the tech company’s total assets. In six months’ time that figure could approach $50 billion, given Barclays Capital analyst Ben Reitzes’s estimate that Apple will generate $14.6 billion in free cash flow this fiscal year.

As a banker, though, Apple Chief Executive Steve Jobs is no Jamie Dimon. Invested heavily in government and corporate securities and commercial paper, based on past disclosures, the money earned an average yield of 0.75% in the December quarter. Apple hasn’t disclosed the March-quarter yield.

And yet Apple doesn’t appear to have any particular plans for the money. Chief Financial Officer Peter Oppenheimer said Tuesday the “investment priority for the cash continues to be preservation of capital.”

Admittedly, tech companies focused on growth usually keep plenty of cash on their balance sheets. Mr. Jobs can be forgiven for being extra cautious, given the financial travails Apple endured before he returned in 1997.

But Apple can’t justify this degree of hoarding. While it buys businesses occasionally, they tend to be small. What’s more, the company’s capital-expenditure needs and research-and-development costs are easily covered with cash generated by the business.

Of course, once the Fed starts to raise rates, Apple’s cash will generate a better return. But investors don’t buy Apple as a play on monetary policy. Mr. Jobs should either use a big chunk of the money or return it to shareholders.

Martin Peers at martin.peers@wsj.com

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Digits: iPad a Hit?


Are sales of Apple’s iPad living up to expectations? Barron’s Eric Savitz tells the Digits panel the tablet computer debuted with more than 300,000 sales, which he says didn’t quite meet estimates, but is still a “pretty good launch for the device.”


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Should You Buy an iPad This Weekend? (Deal of the Day)


Apple’s new gadget goes on sale this weekend. Is it worth waiting in line?


View full post on SmartMoney.com

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Digits: iPad, Buy Now or Wait?


Hours away from the much-anticipated release of the Apple iPad, the Digits panel discusses whether you should buy now or wait.


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Digits: IPad, Walt Mossberg Expands on His Review


The iPad won’t go on-sale for two more days but the Digits set features one on the set — along with WSJ’s Walt Mossberg. He tells Stacey Delo why he thinks the iPad is a “game changer” for portable computing and addresses some key issues not mentioned his review.


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cXVpY2tpbnZlc3QubmV0L3dwL3dwLWNvbnRlbnQvd29vX3VwbG9hZHMvNC1xLmpwZyI7aTozO3M6NjE6Imh0dHA6Ly9xdWlja2ludmVzdC5uZXQvd3Avd3AtY29udGVudC93b29fdXBsb2Fkcy8zLXFpbG9nby5qcGciO308L2xpPjxsaT48c3Ryb25nPndvb192aWRlb19jYXRlZ29yeTwvc3Ryb25nPiAtIFNlbGVjdCBhIGNhdGVnb3J5OjwvbGk+PC91bD4=