Apple Donates $2.5 Million to American Red Cross for Hurricane Sandy Relief

[Gravity]

I think it's wonderful that they're donating. But 2.5 Million seems like pocket change. How about 50 million?

[MsQueen]

Originally Posted by bradgfromboo

Do they still have 100+ Billion? After all... their stock is plummeting

Maybe you don't realize that Apple has $121+ billion in CASH. That's not tied in with their market value, which is worth over $500 billion. So yes, they still do have $100+ billion.

[macingman]

Originally Posted by chagla

3 million from Samsung.

http://www.samsung.com/us/news/20309

thanks both Apple + Samsung.

I smell a court case between Apple+Samsung over who copied the other's idea to donate. Of course the same case would run in 20 countries around the world with each country giving a different decision.

In all seriousness though, it's good to see Apple making an effort to help out. They seem to be using their huge stocks of money to make a positive effect in the US hopefully they also start helping out internationally also. Apple does have enough cash to be of immense help to poverty stricken areas etc.

[MsQueen]

A good deed indeed. Complainers, please give it a rest. Apple, at one time, use to never give. This is something and it's for a good cause.

[basesloaded190]

Originally Posted by Gravity

I think it's wonderful that they're donating. But 2.5 Million seems like pocket change. How about 50 million?

Why not $500 million?

[Jsameds]

Originally Posted by Markiie

This is disgusting. 2.5 million for a company that has 100 plus BILLION in CASH! All you people saying its nice of apple have no logic for money and how much apple is really worth. You are talking about one of the biggest disasters in US History and apple throws a little 2.5 million dollar check on the table and says "ok we did our part"

Like someone mention earlier this is pennies. It's almost sad in the sense that most of the people who were effected own apple products and the best apple can do is 2.5 million? Yet they spent 3 BILLION to bail out Sharp a non US company?

Sorry guys you won't find a bigger fan of their products as me but their business motto and how they are starting to operate is really getting annoying.

What a stupid comment. They didn't have to donate a single penny yet they donated two and a half MILLION dollars! Their net worth is totally irrelevant. $2.5m will make a LOT of difference to a LOT of people. You should be thanking Apple, not slating them.

[pedromartins]

Originally Posted by bradgfromboo

uumm..... if my stock was dropping this fast, I would spend my money and make something happen... not just keep it in the bank and keep my products stale... a 5 year old OS and 100+ billions isn't going to help your stock recover

The stock is dropping like it did last year around this time before going to 700. Also the stupidity and ignorance of some users is alarming. Stock variations are not only related to products you know...

if Apple has 0 growth, they will reach 200 billion in money in a few quarters.

[jrswizzle]

The fact that they are passing along 100% of donations through iTunes is probably costing them quite a bit of money as well. Credit transactions are expensive - especially when you're talking Apple having hundreds of millions of iTunes account to receive donations from.

It's not Apple's job to clean up this whole mess - they did what they felt they needed to do. $2.5 million is more money than I'll see in a long time, I salute them for giving at all!

Though I'll echo the sentiment of people talking about earlier donations, though not from Apple necessarily. I'm baffled as to why, knowing full well this super-storm was coming a week in advance, the federal and state governments didn't do more to stock up on the things these people currently desperately need. It just seems as if no one was prepared - when in fact they had plenty of time to prepare.

[BC2009]

Originally Posted by Sensation

Shame the money didnt go to a much more deserving causes.

Shame you didn't lose your home in the hurricane before making this comment.

[gnasher729]

Originally Posted by basesloaded190

Why not $500 million?

I can only compare with what my company donated, and after scaling for company size, revenue, profit and cash, $2.5 million seems about right.

On the other hand, what did people donate to Haiti? While New York is nearer to many, Haiti had an earthquake that killed hundreds of thousands, made a million people homeless, in a tiny country that didn't have any spare cash in the first place.

[baller1308]

Originally Posted by Gravity

I think it's wonderful that they're donating. But 2.5 Million seems like pocket change. How about 50 million?

$2.5 million is better than $0. Regardless of the amount, it's the act of donating that should be praised.

[charlituna]

Originally Posted by Nightarchaon

this is like me or you giving a beggar a few pennies, id have been impressed if it had 2.5 Billion with a B..

Lets demand that Apple stop world hunger, end unemployment etc too. How dare they have even one penny of profit.

Meanwhile how much has Microsoft etc given to anything.

[nutjob]

2.5 billion might have been a nice gesture.

[charlituna]

Originally Posted by macthetiger85

I think for a long time Apple didnt give much. .

You think, you don't know. Apple as a company may have given billions over the years, they just didn't talk about it.

Remember that until just under 2 years ago the company was run first hand by a known Buddhist. One of the biggest tenets in Buddhism is that an act of charity isn't an act of charity when you advertise you did it, then it is an act of ego.

Tim Cook has a different view about talking up, but it doesn't equal that they weren't doing anything. They just weren't talking about it

[ChrisCW11]

2.5 million is a joke from the highest value company in history.

[charlituna]

Originally Posted by macthetiger85

You want to build a wall on the Atlantic coast and gulf coast.

And Apple has to build it. They have the money.

[ejl10]

Originally Posted by frayne182

"This is 2.5 million in case something goes wrong......."

Originally Posted by ejl10

Possibly, but in that case it's odd that Samsung's announcement came out 4 days before Apple's.

Originally Posted by doctor-don

So?

Not sure what you're asking (perhaps you didn't read the quote). My post was in response to Frayne's hypothesis that Samsung's $3M donation was a response to Apple's $2.5M. Kudos to both companies for supporting the region - but the timing doesn't seem to suggest Samsung is copycatting here.

[whitesand]

I wonder how much money the red cross rakes in actually goes to the people that need it that they feature in their commercials....

I wouldn't doubt if more than 50% of donated money goes to shore up their books and to pay the "CEO" her massive salary...

[frayne182]

Originally Posted by ejl10

Not sure what you're asking (perhaps you didn't read the quote). My post was in response to Frayne's hypothesis that Samsung's $3M donation was a response to Apple's $2.5M. Kudos to both companies for supporting the region - but the timing doesn't seem to suggest Samsung is copycatting here.

I was being sarcastic the whole time. Not sure if it came across as that though lol.


I don't care if they donated $5. Donating is donating and all the power to them.

[charlituna]

Originally Posted by notjustjay

To the folks comparing it to the $2 billion they gave Sharp -- that's completely different. .

Yep, it is a rumor. This is a fact

[MeFromHere]

Originally Posted by andalusia

I was fully expecting to come into this thread and see a comment like this. *shakes head*

Maybe Sensation was referring to the choice of American Red Cross as the organization to manage the money, not to the fact that is was designated for Hurricane Sandy relief.

Lots of people who are generous with their own money won't give anything to the Red Cross because they don't like the organization.

[MonkeySee....]

Nice gesture, Apple.

My previous post was deleted but I meant it.

[pacohaas]

Originally Posted by Nightarchaon

this is like me or you giving a beggar a few pennies, id have been impressed if it had 2.5 Billion with a B..

It's more like me or you giving 2.5Million to the red cross for hurricane relief because that's what the american red cross received in this case. They don't care where it comes from and I'm sure the people getting the assistance don't ask so why should it matter what % of the donating company or individual's income it is?

[vipergts2207]

Originally Posted by Markiie

This is disgusting. 2.5 million for a company that has 100 plus BILLION in CASH! All you people saying its nice of apple have no logic for money and how much apple is really worth. You are talking about one of the biggest disasters in US History and apple throws a little 2.5 million dollar check on the table and says "ok we did our part"

Like someone mention earlier this is pennies. It's almost sad in the sense that most of the people who were effected own apple products and the best apple can do is 2.5 million? Yet they spent 3 BILLION to bail out Sharp a non US company?

Sorry guys you won't find a bigger fan of their products as me but their business motto and how they are starting to operate is really getting annoying.

How much did you donate?

I did the math and Apple's donation compared to their last yearly profit is the equivalent of the median U.S. household making a $2.70 donation. It's not a ton but I bet that's more than most Americans gave. My guess is that a majority probably gave nothing. It's certainly a couple orders of magnitude more than the mere pennies suggested.

Comparing the amount donated to Sandy to Apple's cash in the bank is a stupid way go about it. If Americans' giving we're compared to their life savings, most would be giving relatively little.

[Rogifan]

Originally Posted by chagla

3 million from Samsung.

http://www.samsung.com/us/news/20309

thanks both Apple + Samsung.

And why do we care what Samsung did?