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Jobs Defends Apple's Cash Hoard

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WHEN DOES APPLE HAVE A RAINY DAY?
"Mr. Jobs told Apple shareholders at their annual meeting Thursday that he preferred to "leave the powder dry" for possible acquisitions, though none were in the offing. He added the cash "will come in handy." At the end of last year, Apple had nearly $25 billion in cash and short-term securities on its balance sheet," the WSJ reports.

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