Apple is now Debt Free [Updated]
Wednesday February 18, 2004 10:24 AM EST
Written by Arnold Kim
According to the Memo, Jobs states that "Today is a historic day of sorts for our company." Apple used $300 million in cash to pay off the rest of their debt, and is now a debt-free company. A big turnaround from over $1 billion in debt in mid-1997.
Also noted in the memo is that Apple has $4.8 billion in the bank at this time.
Update: In case there was any doubt: Fred Anderson reported the same on Friday.
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