In what might be considered an telling move, Apple have purchased a large piece of land previously owned by Hewlett-Packard. This new 98 acre purchase makes Apple the largest landowner in the city of Cupertino, Calif, as they grow and expand at a rate few others can keep up with.
Apple products are selling like hot cakes all around the world, and things don’t look like slowing down any time soon. In a report from the consulting firm Creative Strategies, Tim Bajarin says that Apple have grown their work force by 12,300 employees in the last year, which raises their global workforce to 46,600. With this news that new land has been purchased, these figure are only likely to expand even more in the next 12 months.
Apple spokesperson Steve Dowling has said “We now occupy 57 buildings in Cupertino, and our campus is bursting at the seams” adding “These offices will give us more space for our employees as we continue to grow.” This new land nearly doubles their existing real estate in Cupertino, and adds to an already existing 50 acre lot that is a short distance from their main 35 acre campus at 1 Infinite Loop.
Neither HP or Apple have revealed the price of the deal, although reports suggest that it was as much as 300 million dollars. However, this is unlikely to be much of an issue for the successful Apple corporation, who reportedly earned $20 billion in revenue during the last quarter of 2010 alone. A big proportion of these profits were from the hugely successful Apple iPad, which has been one of the biggest hits of 2010.
Most technology companies are not even hiring at all during these tough times, let alone expanding at such a healthy rate. While Apple are likely to see some stiff competition for the iPad and iPhone in 2011, even with healthy competition they are likely to continue their rapid expanse during the next few years.