Yesterday I wrote up a review of Apple's earnings. And while the earnings are declining, Apple is still in pole position in the mobile space. Nonetheless, Google's product unveiling yesterday was huge because the various products in handsets, tablets and for TV show that Android has entirely closed the gap with Apple. Today I want to review why this is so important.
Apple is one of the most profitable companies in the world. Outside of oil companies, it is hard to find a company with such a large market capitalization that sells as much as Apple does. Just a decade ago, Apple had barely emerged from a near-brush with bankruptcy, saved only by Microsoft ironically. Now it has nearly $150 billion in cash on its balance sheet. And most of this is largely a result of the iPhone. Apple's iPh...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.