Apple's cash
In addition to Apple's existing cash and ST investments of $42bn, the Company also has LT investments of ~$104bn. Would you deduct them for the purpose of calculating enterprise value?
In addition to Apple's existing cash and ST investments of $42bn, the Company also has LT investments of ~$104bn. Would you deduct them for the purpose of calculating enterprise value?
Career Resources
Generally yes. True for all the big tech guys, as they have gotten creative with what they do using their cash pile (i.e. I heard google buys securitized auto loans).
Depends on the liquidity of the assets.
^^ exactly, you have to look at what the LT investments are made up of. Here it looks like US Treasury and Agency securities, Corporates, Munis, and a little bit of MBS. I'd definitely include it as these are very liquid assets
eta: got my info from p54 of the 10K (note 2) http://edgar.sec.gov/Archives/edgar/data/320193/000119312512444068/d411…
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what ev did you come up with?
Yeah deduct them in this case. You wouldn't if the LT investment was money invested to build a giant apple campus or something
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