Seek news on
InfoAnda
powered by
Google
Custom Search

Last text search :
2016 wso 2.5 rw-r
2017 #1 smp wso rw-r

wso-drwxr-xr-x-smp.php-(writeable).php
2017 #1 smp wso rw-r
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php


Wednesday, 4 August 2010 - Analysis: Cash-rich Apple's CFO may have world's best job
  • Pakistanis angry over detentions in Times Sq. case
    Monday, May 24, 2010
    ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
    They
  • Taiwan denies boycotting Australian film festival
    Thursday, August 6, 2009

    AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
  • Merkel's support dips, regional ally resigns International
    Thursday, September 3, 2009

    By Sarah Marsh and Noah Barkin

    BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
  • Minister seeks closure of anti-Berlusconi websites
    Wednesday, December 16, 2009
    ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
  • Asian markets mixed after Wall Street rally
    Wednesday, March 18, 2009

    By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
  • US dampens hopes Iran offer will revive nuke talks | 11 September 2009
  • Iran, NATO in first talks in 30 years: NATO officials | 27 March 2009
  • New Egyptian govt sworn in | 8 March 2011
  • Button extends title lead with Bahrain GP win | 27 April 2009


    Forum Views () Forum Replies ()

    Read more with google mobile : Analysis: Cash-rich Apple's CFO may have world's best job

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Analysis: Cash-rich Apple's CFO may have world's best job Reuters - Wednesday, August 4 Send IM Story Print By Gabriel Madway SAN FRANCISCO - Apple Inc Chief Financial Officer Peter Oppenheimer faces a dilemma that perhaps every finance chief wishes to have: obscene amounts of cash and nowhere to put it. The iPhone, iPad, iPod and Mac computer maker has accumulated a cash pile that totals nearly $46 billion, the biggest cash hoard among U.S. tech companies and equivalent to one-fifth of Apple's market capitalization. And yet, due to an ultra-conservative investment strategy and low interest rates, that cash is earning next to nothing for Apple, which rarely makes acquisitions and does not pay a regular dividend or buy back stock. "Oppenheimer probably has the most enviable CFO job on the planet," joked Creative Strategies analyst Tim Bajarin, who has been following Apple since the early 1980s. Analysts say Apple's near-death experience in the 1990s helps explain why it likes to remain liquid by investing in safe but low-yielding U.S. Treasury and agency debt. The company earned a mere 0.76 percent on its cash and investments in its most recent quarter, down from 1.43 percent in fiscal 2009, 3.44 percent in 2008 and 5.27 percent in 2007. Despite these low returns, Apple does not face much pressure these days to put its cash to better use. Any dissenting investors are probably appeased by the meteoric rise in the company's share price, which has tripled since 2007. "When a company is growing as fast as Apple, cash management is pretty far back in people's thoughts," said Pacific Crest Securities analyst Andy Hargreaves. "But that'll change at some point," he added, estimating that Apple's cash could hit a cool $65 billion by the end of fiscal 2011 if the company continued to generate free cash flow at the current pace. For now, Oppenheimer has a mantra that he repeats on every quarterly earnings conference call: He tells Wall Street that Apple's investment priority is the "preservation of capital" with a focus on "short-dated, high-quality investments." Bajarin said Oppenheimer's cautious approach dates from his time at Automatic Data Processing Inc, but Apple's conservatism is also driven by Chief Executive Steve Jobs. Both Jobs, 55, and Oppenheimer, 47, subscribe to the Silicon Valley maxim that "only the paranoid survive," he said. They remember the dark days when Apple was struggling to stay alive and had to lay off thousands to cut costs. When Oppenheimer joined the company in 1996 as its controller for the Americas, a series of bad management decisions had eroded profits and sent its share price diving to less than $5. Things got so bad that one of the first things Jobs did when he returned to Apple was take a lifeline in the form of a $150 million investment from Microsoft Corp in 1997. A TIGHT SHIP While those days may be long gone, fiscal prudence could be here to stay. Apple's financial estimates are almost comically conservative, delivered every quarter by Oppenheimer, who has rarely strayed from the script since he became CFO in 2004. The Cupertino, California-based company runs a tight ship: total revenue rose 75 percent from fiscal 2007 through 2009, while operating expense rose just 45 percent. Although Apple is famous for innovation, research and development costs only account for 3 percent of revenue -- far lower than at Microsoft and Cisco Systems Inc, due in part to Apple's narrow product portfolio. Apple does not appear to pay especially high salaries, either. According to career website glassdoor.com, which relies on anonymous users sharing their salary data, an Apple software engineer earns around $100,000 per year, roughly the same as engineers at Google Inc. Production costs are also kept low, due to contract manufacturers like Foxconn International Holdings Ltd. "They've entered a lot of new markets without a significant capital investment ... without really betting the farm," said Hudson Square analyst Daniel Ernst. "They haven't really needed to," he said, pointing to the iPhone as an example. The only big-ticket spend that Apple has disclosed is a $1 billion data center that it is building in North Carolina, which is expected to be completed by the end of the year. KEEPING POWDER DRY While many top tech companies are awash in cash, unlike Apple, they tend to put excess cash to use. For example, Intel Corp and Microsoft pay dividends; Cisco and International Business Machines Corp buy back big chunks of stock; and Hewlett-Packard Co and Oracle Corp are serial acquirers. Apple makes few acquisitions because it develops products internally, and pays little for what it does buy. Analysts say they do not expect Oppenheimer -- who told CFO Magazine in 2000 that he learned finance from his father and grandfather -- to make significant bets with Apple's cash in the next few years. Jobs has said that Apple could do something "big and bold" if needed, but he has also expressed no interest in a share buyback or a dividend. The company last repurchased shares in 2001 and scrapped its last dividend after 1995. "I'm not as concerned as some shareholders might be about their immediate plans for cash, I prefer that they not rush," said Erick Maronak, chief investment officer for the Victory Large Cap Growth Fund, which has Apple as its largest holding. "If you look at the history of companies deploying excess cash, it's not a very good track record," he said. One case in point is Microsoft, whose share price is still below the level it reached in 2004, when the software maker declared a $32 billion one-time dividend that sapped up more than half of its cash balance. Recommend Send IM Story Print Related Articles Saudi regulator stops BlackBerry services starting Friday AFP - 14 minutes ago US-TECH Summary Reuters - 20 minutes ago RIM unleashes BlackBerry Torch to take on iPhone AFP - 1 hour 3 minutes ago Hackers could enslave iPad and iPhone: security firm Reuters - 1 hour 23 minutes ago Analysis: Cash-rich Apple's CFO may have world's best job Reuters - Wednesday, August 4 News Search Top Stories Spanish resort city readies to host Michelle Obama, daughter Fearful Americans save more as recovery slows Pfizer notches nine percent profit jump GM's US sales up 5.4 percent in July, Ford up 3.1 percent Parched Russia warns on harvest as wheat prices surge More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended One dead as rockets hit Red Sea ports of Eilat, Aqaba Schumacher says 'sorry' for Barrichello move BP gears up for well 'kill' Space station drama as cooling system fails Census shines light on biodiversity of the seas More Most Viewed » Parachuting donkey shocks Russian beachgoers Argentine students crack three-decade-old murder mystery World's first full face transplant man appears on TV Paris Hilton caught with cannabis in handbag Calcium supplements linked to heart attacks: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

    Other News on Wednesday, 4 August 2010
    Explosions kill 12, wound 55 in Iraqi city of Kut
    Russia struggles to quell wildfire emergency
    Haider's millions came from Libya, Iraq: media reports
    US-TECH Summary
    Lebanon, Israel troops clash on border
    US raises rights concerns at Russia detentions
    Analysis: Cash-rich Apple's CFO may have world's best job
    Fearful Americans save more as recovery slows
    Explosions kill 12 and wound 55 in Iraqi city of Kut |
    42 killed in Iraq attacks as Qaeda plants flag
    BlackBerry users lambast planned UAE services ban
    Pfizer notches nine percent profit jump
    U.S. aims to tighten sanctions grip on Iran |
    RIM unveils new BlackBerry to counter iPhone
    U.S. aims to tighten sanctions grip on Iran
    GM's US sales up 5.4 percent in July, Ford up 3.1 percent
    30 killed, 80 wounded in Iraq twin car bombs: medic
    Israeli officer killed in Lebanon border clashes
    Taliban attack main US base in Afghan south
    Lebanese troops killed, Israelis wounded in clashes
    Cuban food output down despite agriculture reforms |
    Pakistan in fresh warning as floods hit 3.2 million
    Pakistan's Zardari says war with Taliban being lost
    NY mosque near Sept. 11 site wins approval
    Pakistani president faces terror row in Britain
    Indonesia must reach political deal with Papua: ICG
    Fiji ruler says he doesn't trust his people with democracy
    US-ENTERTAINMENT Summary
    Hackers could enslave iPad and iPhone: security firm |
    Lady Gaga wins record 13 MTV video music nominations
    Tourists lose themselves in new London maze
    U.S. authorities able to tap BlackBerry messaging |
    Obesity weighs heavily on health, lifespan in US: study
    Taiwan business furious at court's environment decision
    Large gaps in Asia-Pacific development goals: UN
    Russian rapper jailed for 10 days after mocking police
    Employees at Indian Volvo bus plant strike over pay
    Spanish resort readies to host Obamas
    India microlender raises $353 million in share sale
    Boeing hikes Indian plane purchase forecast by 15%
    Lady Gaga wins record 13 MTV video music nominations |
    Sandra Bullock earns top paycheck in Hollywood |
    Qaeda linked group claims attack on Japan tanker
    Societe General sees second-quarter profits triple
    Political violence rages in Karachi, 12 more killed |
    Israeli shelling kills Gaza militant
    Kenyans vote in referendum on new constitution |
    Isner ousts Thiemo de Bakker in Washington tennis
    Qaeda linked group claims attack on Japan tanker |
    U.S. urges Japan follow EU with more Iran sanctions |
    US obesity growing 'faster than anyone imagined'
    Spanish resort city readies to host Michelle Obama, daughter
    Sharp plans to launch 3D smartphone this year
    Haider's millions came from Libya, Iraq: media reports
    Israeli shelling kills Gaza militant: medics |
    Motorola, Verizon team up to launch TV device: report
    Saudi regulator says Blackberry ban begins Friday
    Obama heartbroken by Zimbabwe's decline |
    First New Zealand soldier dies in Afghanistan
    Hackers could enslave iPad, iPhone: security firms
    Afghanistan's ranks of civil servants under siege
    Pakistan floods threaten to bring food crisis |
    Saudi regulator stops BlackBerry services starting Friday
    Pacific island leaders urged to engage Fiji
    RIM unleashes BlackBerry Torch to take on iPhone
    Wyclef Jean to seek Haitian presidency: report |
    Motorola, Verizon team up to launch TV device: report
    American Idol dumps Sony label for Universal
    Pakistan floods threaten to bring food crisis
    Canada gives $2m in aid to flood-hit Pakistan
    Fans face long wait for final "Twilight" movie
    Australia PM Gillard faces tobacco, poll battles
    At least three dead in China school attack
    Cambodia 'respects' KRouge jailer's conviction: PM
    Global Weather-Celsius
    Militants claim suicide bomb attack on Japan tanker
    RIM unveils new BlackBerry to counter Apple iPhone |
    S.Korea warns N.Korea on eve of naval drill
    Lady Gaga, Carla Bruni top Vanity Fair best dressed
    Millions of Japanese trapped in 'hidden poverty'
    Motorola, Verizon team up to launch TV device: report |
    Gaza girls turn to fishing to feed family
    Sharp plans to launch 3D smartphone this year |
    US to target secret funds of N.Korea's Kim
    Emmy's actor race a (mostly) level playing field
    Indonesian Internet use booming
    Justin Bieber to play himself in 3D movie
    Rome re-lives the Dolce Vita in a photo exhibit
    Fans face long wait for final "Twilight" movie
    New musical returns Alice to Wonderland, via Broadway
    American Idol dumps Sony label for Universal
    Mitsui: won't pay BP until spill cause 'revealed'
    Justin Bieber ready for big-screen biopic
    Toyota first quarter net profit 2.2 billion dlrs
    Pakistani c.bank buys 33.10 bln rupees of govt paper
    Seoul shares end flat; refiners rise, autos fall
    S&P owner hits back at China criticism: report
    Taiwan insurer shares up on China investment rules
    PAKISTAN
    Key promotion fuels Tata succession speculation
    Seoul shares end flat; refiners rise, autos fall
    S.Korea bonds up; US data damps rate hike concern
    Fans face long wait for final Twilight movie |
    Emmy's actor race a (mostly) level playing field |
    Justin Bieber to play himself in 3D movie |
    Wyclef Jean to seek Haitian presidency: report |
    New musical returns Alice to Wonderland, via Broadway |
    Israel axes trees, nixes tension after Lebanon clash
    Dutch teen sets off for world solo sailing bid
    Iran's Ahmadinejad unhurt after blast near motorcade |
    Ahmadinejad unhurt after motorcade explosion
    British bank Lloyds returns to profit in first half
    Israel cuts down trees that caused Lebanon clashes
    Saudi and RIM in last-ditch talks
    Pakistan president under attack over Europe trip
    U.N. supports Israeli claim on Lebanon clash |
    Wimbledon finalist Zvonareva triumphs at WTA tennis
    Google changes trademark ad policy in Europe
    Instant view
    Russian wildfires death toll rises to 48: ministry
    Google loosens Europe ad trademark controls
    Iran's Ahmadinejad unhurt after blast near motorcade
    IPads set for official Israeli launch in a few weeks
    Czechs bury anti-communist fighter |
    Gaza militants may be behind rockets, Egypt says
    EU Commission chose iPhone and HTC over BlackBerry
    Two U.N. Gaza probes will not overlap: rights chief |
    Iran denies grenade attack on Ahmadinejad
    Ban on BlackBerry data a security badge of honor
    Take stance on Bashir arrest, group tells Africa
    Italy minister says snap polls possible in autumn |
    Naomi Campbell gives blood diamond testimony at Taylor trial |
    Food fears for Pakistan flood survivors
    South Korea drills draw North ire, no retaliation seen
    Three children die in latest China school attack
    Saudi and RIM in last-ditch talks |
    Toyota posts quarterly profit, raises forecast
    Man detained after China school attack: state media
    Politics trump bling as "Real Housewives" move to D.C.
    Intel settles U.S. charges that it stifled rivals |
    Asian families struggle to support children, parents
    Wyclef Jean to seek Haitian presidency: report
    Google changes trademark ad policy in Europe |
    EU Commission chose iPhone and HTC over BlackBerry |
    IPads set for official Israeli launch in a few weeks |
    BlackBerry 'will not let India monitor messages'
    Indian tycoon 'targets Blackburn takeover'
    Pakistani stocks flat; rupee firms; o/n rates down
    Liverpool bidder has Wall St. flair, Beijing connections
    Taiwan expects big leap in China procurements
    Floods destroy Pakistan farmers' livelihoods
    Politics trump bling as Real Housewives move to D.C. |
    Greece at new risk of being pushed off euro
    Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
    Female Breasts Are Bigger Than Ever
    AMD Trinity Accelerated Processing Units Now in Volume Production
    The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
    AMD to Start Production of piledriver
    Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
    Islamists Protest Lady Gaga's Concert in Indonesia
    Japan Successfully Broadcasts an 8K Signal Over the Air
    ECB boosts loans to 1 trillion Euro to stop credit crunch
    Egypt : Mohammed Morsi won with 52 percent
    What do you call 100,000 Frenchmen with their hands up
    AMD Launches AMD Embedded R-Series APU Platform
    Fed Should not Ignore Emerging Market Crisis
    Fed casts shadow over India, emerging markets
    Why are Chinese tourists so rude? A few insights

    [InfoAnda] [Home] [This News]



    USD EUR - 1 year graph

    BlogMeter 1.01