Apple’s already massive cash reserves are continuing to grow at an astounding rate. Apple’s Chief Financial Officer Peter Oppenheimer revealed during Apple’s recent quarterly earnings call that the company now has over $110 billion ($110.2, to be precise) in the bank.
In comparison to the 95.7 billion that they reported at the end of the holiday 2011 quarter, meaning that Apple has built up an additional $14.5 billion in cash in just 3 months. That’s a pretty staggering rate of growth.
Such a large cash pile certainly gives Apple a lot of power – they could acquire any number of companies (or perhaps several companies at once) with that amount of cash. That makes for some pretty exciting speculation as to what Apple might do with the money. Perhaps they’ll continue saving up until they can purchase their own nation? Perhaps even the United States?