Apple's Financial Chief, Luca Maestri, Has Good Reasons to Desert
Don't trust the financial industry (at face value)
Apple's deficit has grown since we last examined it and the CFO of Apple has just announced that he is leaving. Here's Yahoo Finance:
Apple has ~40,000,000,000 dollars in debt more than it has available to use. That's some serious deficit. It should be noted that "cash" for Most Recent Quarter (MRQ) is a misnomer as it's not actually cash that Apple has available. To quote a quasi-formal definition: "Cash on hand, sometimes referred to as cash or cash equivalents (CCE), is the total amount of cash a business can access, whether from its on-site paper bills or from its bank accounts and assets. Typically, business owners consider any asset they can liquidate into cash in 90 days or fewer as cash on hand."
It sounds like Apple is in a precarious situation not much better than Intel's. A year ago nobody believed that Intel would crash over 60% in a matter of months. Many people lost their job there and many left (Intel does not count them as "layoffs", so the media doesn't tell the full story). █
