Interesting times at One Infinite Loop
In its latest earnings report on Wednesday, Apple recorded cash and cash equivalents of $65.8 billion, adding to the prior quarter by about $6 billion. The sum easily trumps Apple’s peers. Google, which boasts the second-largest cash pile, reported $36.7 billion in cash last week, less than half of Apple’s war chest.
One possible target is Netflix, a movie rental service that streams content to users’ personal electronic devices. The service, which is also available on Apple’s iTV device, could compliment [sic] Apple’s iTunes service, which hosts thousands of movies and videos, according to James Cordwell, an Atlantic Equities analyst.