Apple has 20 times more cash than the entire value of RIM
Poor old Research in Motion, purveyor of the once mighty BlackBerry. Today the share price closed at $9.66, valuing the company at under £5bn. Some have asked why Apple doesn’t splurge a modest 5% of its cash pile and take out the BlackBerry. After a a 30-second ponder the answer becomes clear. Why on earth would Apple want or need BlackBerry?
In 2007, just five years ago, RIM’s then CEO, Jim Balsilie, said: “It’s kind of one more entrant into an already very busy space with lots of choice for consumers. But in terms of a sort of a sea-change for BlackBerry, I would think that’s overstating it.” Some sea-change, more like a tsunami.