Zero Hedge nails Apple

Zero Hedge: virtually all of AAPL's cash growth in the December 31 quarter took place offshore, where its cash hoard rose from $137 billion to $158 billion (mostly thanks to the previously mentioned surge in Chinese iPhone purchases). How much of Apple's cash is domestic? As the following chart shows, a paltry $20 billion of AAPL's cash, or barely above 10%, is held domestically - one of the lowest levels in the past 4 years - and can be used for such corporate activities as stock buybacks and dividends.

I was going to nail Apple on this, but assumed Zero Hedge would nail this, I was right.  Did Apple have a great year in China? They sure did, but anyone holding dollars for international trade over the last two quarters made nearly 15% on their holdings.  Betting the central bankers is now more lucrative then making useful stuff!