Braeburn Capital

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Braeburn Capital is an asset management company based in Reno, Nevada and a subsidiary of Apple Inc. Its offices are located at 6900 S. McCarran Boulevard in Reno.[1]

History[edit]

Apple created the company on April 6, 2006 to better manage its assets and to avoid certain California state taxes[2] and taxes from other US States totaling in millions of dollars.[3]

Apple's cash and short-term investments
Year Value (billion USD)
2005 8.3
2006 10.1
2007 18.45
2008 24.49
2009 33.992
2011 25.95
2012 29.1

At the end of 2005, 2006, 2007, and 2008, Apple's cash and short-term investments were valued at US$8.3 billion,[4] US$10.1 billion,[4] US$18.45 billion,[5] and US$24.490 billion,[6] respectively. As of September 26, 2009, its cash holdings were reported to be US$33.992 billion, increasing to $97 billion at the end of 2011.[7] In October 2012, C|Net reported that Braeburn had US$117.2 billion under management, making it "the world's biggest hedge fund." [8]

In 2012, Wall Street analysts calculated that Apple could earn up to $45.6 billion in its current fiscal year 2012, a record for any American business. By national and international diversions of revenues and many other legal methods, Apple stands to save billions of dollars in taxes.[3]

Name[edit]

The name Braeburn refers to a particular cultivar of apple. This is a play on the name of the parent company Apple Inc.[9]

References[edit]

  1. ^ "Relax: Apple's Reno asset-management office is still here". Reno Rebirth. 8 March 2013. Retrieved 24 August 2013. 
  2. ^ "Apple Takes Its Bankroll To Reno". BusinessWeek. April 5, 2005. 
  3. ^ a b Duhigg, Charles; Kocieniewski, David (April 28, 2012). "How Apple Sidesteps Billions in Global Taxes". The New York Times. 
  4. ^ a b "SEC 10-K Filing" (PDF). Apple Inc. December 29, 2006. 
  5. ^ "SEC Filing". Apple 10Q Filing. U.S. Securities and Exchange Commission. December 29, 2007. 
  6. ^ "Edgar Pro". Google.brand.edgar-online.com. Retrieved August 15, 2012. 
  7. ^ "SEC 10-K Filing". Apple Inc. October 27, 2009. 
  8. ^ "Apple cash manager Braeburn: the 'world's biggest hedge fund'". CNet. October 1, 2012. 
  9. ^ University of Massachusetts Cold Spring Orchard page