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Re:Apple Announces Plans to Initiate Dividend and Share Repu... by namsral on Monday March 19, 2012 @11:45AM (#3724425)
Apple came pretty close in 1997 when they had $380 in cash and a market cap of 2.2B but their LT debt was growing fast. ~1B at the time.

Source: http://www.businessweek.com/1997/34/roster34/aapl.htm

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