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Apple’s $24.5 Billion: The Case for a Big Stock Buyback

October 30, 2008
by Philip Elmer-DeWitt
Blogger, Apple 2.0

Philip Elmer-DeWitt

Here’s a headache most companies would love to have. Apple is sitting on a huge cash reserve–$24.5 billion as of September and growing at the rate of $8 to $10 billion a year–that’s doing almost nothing for it. The money is earning about $1.55 percent interest after taxes, according to a report issued Wednesday by Bernstein Research’s Toni Sacconaghi, at a time when the company’s stock is trading at a unusually low (for Apple) multiple of 15 times earnings.

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This is a section of the All Things Digital Web site featuring posts from around the Web, from other Dow Jones properties and also original pieces we solicit. The section is now explicitly labeled that it comes "from other Web sites."

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