The stock market is saying that we have more confidence in Apple than Citibank, Merrill Lynch and the rest of the Scumbags running our financial system. That’s not wrong…it’s right.
In 2006 and 2007 I wrote MANY posts about who should buy Apple. That was about $100 billion ago. Now the tables are turned and Apple has a market capitalization of $154 Billion, with no debt, and $20 PLUS BILLION in cash.
Wachovia (WB) on the other hand, had $120 billion or so market cap a year ago and now has a $30 billion market cap… and shrinking. They have thousands of locations, but
their balance sheet is worth less than this blog. That’s not much.
Now’s the time for him to flip the financial world upside down and buy a few banks.
In fact, Steve could buy ALL of Starbucks for $11 billion, close half the stores (addiction and scarcity), and give free wi-fi to the world. GAME OVER!
The time to press your best is when you are in the driver’s seat. Both acquisitions are miniscule to Apple at this point give them the distribution.
For fun and ego of course he could add a NON-Fat Double ‘Jobs’ Latte and a Steve Ballmer doughNUT!
Everyone on Wall Street is panicked. No one is thinking clearly. Typical cycle stuff and it always seems nastier than the last time.
Desperate times are when serious legends and fortunes are made. America is not dead, just the banking system. Steve Jobs is human and will die. Just saying…