Apple loose change

Apple has agreed to pay $9 million in penalties for making false or misleading representations to customers with faulty iPhones and iPads about their rights under the Australian Consumer Law

By my reckoning that means Apple has only $199,991,000,000 cash left in the bank!  Oops, forgot to convert the penalty into US dollars. Should be a $US6.7 million penalty, leaving only $199,993,300,000 left in Apple's bank account.

https://www.accc.gov.au/media-release/iphone-and-ipad-misrepresentations-cost-apple-inc-9-million-in-penalties

Interesting observation by Justice Lee about the ACCC's $9m penalty against Apple. He is spot on describing the penalty as "loose change".   I particularly liked how Justice Lee pointedly asked counsel for the ACCC how many minutes it would take the “behemoth” to recoup the $AUD9 million. By my calculations and based on Apple's annual sales to September 2017 of $AUS308 billion, the answer is 15 minutes and 21 seconds! You have to wonder why the ACCC didn't hold out for more money given they had up to 275 separate contraventions each worth $10 m each - maybe someone at the ACCC forgot to put a zero in their penalty submissions!

https://www.brisbanetimes.com.au/business/consumer-affairs/loose-change-judge-suggests-apple-could-recoup-9m-penalty-in-minutes-20180719-p4zset.html