Apparently, Apple is swimming in so much cash they could create their own country. No joke. How much money? Well, we’ll put it like this: With Apple’s $137 Billon cash reserve, as of 2013, the company could virtually pay off a third of the US deficit. That’s a lot of cash to swim in.
According to Financial Times, “Apple will acquire Beats’ streaming music service, which launched this year, and its audio equipment business, which includes its brand of headphones and audio equipment,” marking the first music startup purchase from the company.
Don’t start rummaging through your basement for your lucky camp-outside-on-the-Apple-store-line-for-days lawn chair just yet. Apple’s been on quite the shopping spree, having bought over 18 companies in the last 18 months.
The Beats deal is still in the works, and according to the article “some details [have] yet to be agreeed and talks could still fall apart.” Until the acquisition is official, our dreams of the iChronic will have to remain just that— dreams.
Gyasi really likes Apples. I mean Apple. Follow her on Twitter @thedominusg.