Braeburn Capital is an asset management company

Asset management company

An Asset Management Company is an investment management firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives...

 based in Reno

Reno, Nevada

Reno is the county seat of Washoe County, Nevada, United States. The city has a population of about 220,500 and is the most populous Nevada city outside of the Las Vegas metropolitan area...

, Nevada

Nevada

Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...

 and a subsidiary of Apple Inc.

History

Apple created the company on April 6, 2006 to better manage its asset

Asset

In financial accounting, assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset...

s and to avoid certain California

California

California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

 state tax

Tax

To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...

es. At the end of 2005, 2006, 2007, and 2008, Apple's cash

Cash

In common language cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately...

 and short-term investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

s were valued at US$

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

8.3 billion

1000000000 (number)

1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109....

, US$10.1 billion, US$18.45 billion, and US$24.490 billion, respectively. As of September 26, 2009, its cash holdings were reported to be US$33.992 billion.

Name

The name Braeburn

Braeburn

The Braeburn is a cultivar of apple that is firm to the touch with a red/orange vertical streaky appearance on a yellow/green background. Its color intensity varies with different varieties. They are known to have a burst of flavor when bitten into....

 refers to a particular cultivar

Cultivar

A cultivar'Cultivar has two meanings as explained under Formal definition. When used in reference to a taxon, the word does not apply to an individual plant but to all those plants sharing the unique characteristics that define the cultivar. is a plant or group of plants selected for desirable...

 of apple

Apple

The apple is the pomaceous fruit of the apple tree, species Malus domestica in the rose family . It is one of the most widely cultivated tree fruits, and the most widely known of the many members of genus Malus that are used by humans. Apple grow on small, deciduous trees that blossom in the spring...

. This is a play on the name of the parent company Apple Inc.