5 Ideas for Apple’s Cash Hoard in 2012

TheStreet Repost

Flash memory maker Fusion-IO(FIO_) is one of Apple’s largest suppliers. The company already has a relationship outside of being a supplier to Apple though. The Chief Data Scientist of the Salt Lake City-based company is none other than Steve Wozniak, who co-founded Apple along with Jobs and Ron Wayne in 1976.

Fusion-IO has been of the most successful tech IPOs this year, rising 46% year-to-date. The company reported quarterly earnings earlier this month, with revenues growing 175% year-over-year to $74.4 million. For the full year, Fusion-IO expects revenue growth of approximately 55%.

Written by Chris Ciaccia in New York.

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