Apple Is Now Debt Free?

Supposedly, Apple’s CEO Steve Jobs released an internal memo today, which several sites picked up on and published.



The first site to find it is HERE.



This is the perported contents of the internal memo:

“Team,



Today is a historic day of sorts for our company. When I arrived back at Apple in mid-1997, the company was burdened with $1 billion of debt. Through everyone’s hard work we turned Apple around, paid off the majority of our debt and began to amass a war chest of cash in the bank which has grown to about $4.8 billion! But there was still $300 million of remaining debt, which we decided to hold to maturity.



Today we used $300 million of our cash to pay off this remaining debt.



Apple is now a debt-free company – for the first time in over a decade!



It sure feels good.



Steve”




If true, this is good news for Apple, and for its (hopefully) continued innovation of new products.




Too bad there wasn’t a memo on planned new iMacs and such…