We have been banging away at Apple, Inc. for awhile now as the most reprehensible U.S. Corporation knowingly profiting off slavery while at the same time screwing the country that gave it the freedom to engage in Free Market Capitalism. In fact our contention would be that Apple, inc. should be declared an enemy of the state and brought up on International Human Rights charges.
Before we go into the multi page document released by the New York times to day, lets review it's recent earnings blow out put into perspective by Tech Crunch (Emphasis ours):
Apple added $38 billion in cash to its reserves just in the past year alone, as Horace Dediu points out. They now have $97.6 billion in cash and equivalents. $64 billion of that is offshore, Apple CFO Peter Oppenheimer stated during the call — meaning, it would cost money (taxes) to bring it back into the U.S.
Apple’s cash hoard alone is worth more than all but 52 companies on Earth, as Dennis Bermannotes.Apple is now the biggest Corporation in America. Once again over taking EXXON. It know sports a 400+ billion dollar market cap. Yet still would rather hoard 64 billion of ill gotten gains offshore to insure it keeps every penny of those ill gotten gains!
Apple’s revenues, while massive, are nothing compared to a company like Walmart, which reported$109.5 billion in revenue last quarter. BUT that $109.5 billion only turned into $3.3 billion of actual income for the quarter. In other words, Walmart has more than double the revenues of Apple, but Apple has more than four times the profits of Walmart. That’s remarkable.
Apple’s profits place them on this exclusive list of the most profitable quarters among corporations. You’ll note that Apple is the only company on the list that’s not an oil and gas company. And they’re a “mere” $3.2 billion from the top spot.We do not find that all that remarkable considering Wal-Mart employ's a significant amount of Americans and much of it's earnings end up circulating in the community where it's stores are located.