$ Apple is Now Debt Free $

[Agathon]

They've been in good shape for years now. This debt was just left over because it was cheaper to let it stand than pay it.

Still, this looks like being a pretty good year for Apple. Expect most of their line to use G5 processors by year's end.

[Asher]

Yes! Hooray for higher profits for Apple.

I hope they increase the price on the Macs and iPods a bit more still.

[Mr. Nice Guy]

http://www.macrumors.com/pages/2004/02/20040218102433.shtml

Apple is Now Debt Free

99mac.se published an internal memo from Steve Jobs to Apple employees today.

According to the Memo, Jobs states that "Today is a historic day of sorts for our company." Apple used $300 million in cash to pay off the rest of their debt, and is now a debt-free company. A big turnaround from over $1 billion in debt in mid-1997.

Also noted in the memo is that Apple has $4.8 billion in the bank at this time.

This is good news. It means much higher profits for Apple now that they don't have to worry about paying down any debts.