"The last time I did this comparison was in June after the end of the second quarter," Horace Deidu reports for Asymco.
"In summary, in June Apple's cash was about 53% of the sum of competing phone vendor enterprise values. Today it's about 61%," Deidu reports. "Excluding Samsung, Apple could buy the industry and still have $25 billion left over. This makes the claim that 'Apple could buy the industry' even more believable."
Deidu reports, "This analysis is mainly academic. It does not imply that any such transaction will take place. As the purchase of Motorola shows, control has a premium and individual buyers may be less "rational" than markets. What it does show however is that the entire industry is in a state of crisis. Valuations for phone companies are collapsing and two major brands (Motorola and Sony Ericsson) are being absorbed and could disappear."
Read more in the full article here.
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