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Wednesday, May 03, 2017

Apple Has a Record $250 Billion In Cash, 90% of It Is Banked Overseas (phonearena.com)

Apple headquarters

On Tuesday, Apple is expected to report its fiscal second quarter earnings. 

In that report, the tech titan will reportedly announce that it is holding $250 billion in cash

If you think that this is a lot of money, you're absolutely right. According to Marketwatch.com, this is more than the foreign currency reserves held by the U.K. and Canada combined.

 Looking at it another way, at current valuations Apple could purchase all of the outstanding shares of Walmart and Procter & Gamble and still have money left over.

 It has taken Apple only 4 and half years to double its cash hoard. During the fiscal first quarter of 2017, Apple was adding $3.6 million to its cash position every hour. 

 It finished the quarter ending in December with $246.09 billion in cash.

 90% of the money is banked overseas, which means that Apple would be one of the companies to benefit the most from President Trump's plan to offer a one time tax break on repatriated funds.

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