Type Subsidiary Website braeburncapital.com Parent organization Apple | AUM US$220 billion (2016) Founded 6 April 2006 | |
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Industry Asset management
Investment management Headquarters Reno, Nevada, United States | ||
Braeburn capital
Braeburn Capital Inc. 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.
Contents
History
Apple created the company on October 3, 2005 to better manage its assets and to avoid certain California state taxes and taxes from other US States totaling in millions of dollars.
Capital
At the end of 2005, 2006, 2007, and 2008, Apple's cash and short-term investments were valued at US$8.3 billion, US$10.1 billion, US$18.45 billion, and US$24.490 billion, 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. In October 2012, CNET reported that Braeburn had US$117.2 billion under management, making it "the world's biggest hedge fund."
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.
Name
The name Braeburn refers to a particular cultivar of apple. This is a play on the name of the parent company Apple Inc.