Apple’s Mountain of Cash Grows to $81.5 Billion

True, the analysts weren’t too happy with Apple’s quarterly financial results, but here’s one amazing detail from Apple’s report that might make you feel optimistic about the company’s outlook: Apple now has $81.5 billion in cash as well as short and long-term investments.Last time we checked (in July), Apple’s balance was $75.9 billion, surpassing the total operating balance of the U.S. government. With the company’s cash reserves growing as fast as they are, it opens numerous possibilities for acquisitions. For comparison, Google’s recent $12.5 billion acquisition of Motorola would be a relatively small dent in Apple’s enormous cash mound.During the call, Apple also announced that two thirds of the company’s cash an investments are held overseas. Apple has recently backed a proposal for a tax holiday, under which companies such as Cisco, Oracly, Pfizer and Apple would get a tax break on earnings generated overseas.If the proposed plan is accepted, these companies would have to pay a tax rate of 5.25 percent, as opposed to the 35 percent tax on profits generated outside of the U.S. The consortium of companies backing the plan claims the tax break would be justified by investing in research and hiring.Artical courtesy of Mashable Business.