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I'm pretty sure MrHobbes was just waiting to jump on someone for that. Although Apple doesn't have $76 billion in "cash and cash equivalents", it's not as if those extra assets are suddenly rendered valueless because they're harder to convert to cash. As you surmise, they provide a lot of leverage.

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Hello ellyagg,

No, I was not waiting to jump on someone for that, and I would hope that my response was not agressive in tone. That really was not intentional, but I apologize to jmreid if that was the case.

I actually up-voted jmreid's post (before typing my response) because he raised an extremely important point.

If I may share something? I like to keep this in mind as I move around online. With the lack of faces and tone of voice to help, I find that it is helpful to remember: http://www.paulgraham.com/randomness.html

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