The stock of Apple Inc (NASDAQ:AAPL) closed at $150.05 gaining 0.89% in yesterday’s trading session. This company’s cash pile has moved a notch higher hitting the $261.5 billion mark. In the previous quarter, it stood at $256.8 billion for an increase of about 13 percent.
From the outlook, if only the total sum of this money could be channeled to work today, it could almost be an overload. It is an amount that would be enough to purchase Oracle Corporation (NYSE:ORCL) and there would still be about $54 billion left over. Considering the current market cap, it would also be enough to purchase either Wal-Mart Stores Inc (NYSE:WMT) or AT&T Inc (NYSE:T) outright.
Apart from the other high-profile investments in Didi and Beats, it is pretty rare for the provider to showcase splashy deals. On the contrary, Apple Inc many at times opts for fuel development and research. The company directed about $2.94 billion on research and development which was indeed a continuation of a nine-month upward trend.
Luca Maestri, the Chief financial officer while speaking to analysts stated that $246 billion of this cash was outside the United States.
Apple has invested quite much in a wide array of businesses worldwide. As a matter of fact, a new store located in Dubai happens to be a centerpiece of Apple’s new retail strategy. However, Apple has in the recent times struggled with some steep tax penalties linked to repatriating foreign earnings.
As matters stand, Cook has come out clearly as a staunch advocate spearheading for reforms in taxation. In line with this was the measure outlined by President Donald Trump. It was about coming up with a one-time cut in repatriation taxes. This would help Apple channel resources in the purchase of another company. It could also be about returning earnings to the company’s shareholders.
A lot of people will be anticipating Apple to give its official statement. This is expected to be in regards to the two-thirds of Apple’s total employee base in the U.S. This will be in spite of the fact that only a third of the revenues will be U.S.-based as outlined by Cook.