Apple will use its $75.2 billion pile of cash and securities to go on a buying spree after Monday’s market crash, Forbes reported on its website Monday.
Responding to rumors that the tech giant, flush with cash from strong sales of its iPad 2 and iPhone 4, would pursue a string of acquisitions in a weak market, Forbes magazine published a list of companies Apple won’t buy.
Bank of America: Apple has wanted to crack the business market for years. Bank of America is big, and its shares fell 20 percent Monday.
Cisco: With Cisco shares down 6.69 percent Monday, Apple almost certainly has enough to buy the networking giant, which is now worth 'just' $76.67 billion.
Ford and General Motors: At the end of Monday, GM was worth just $36.88 billion. Ford was worth only $37.72B. Apple could buy them both and still have $600 million in cash left over.
Hewlett-Packard: HP’s shares fell 5.58 percent, compared with Apple’s fall of 5.56 percent. Still, with a market valuation of $63.9 billion, Apple could afford to buy HP with its spare cash.
Disney: Disney is worth $62.43 billion. If Apple wants to perchase Disney, it could do and still have plenty of money left over.
United Technologies: United Technologies is now worth just $63.37 billion after a drop of 5.83 percent Monday.