Apple Has $250 Billion in Bank

9 months ago in Business
Apple Has $250 Billion in Bank

In the reports of Apple’s quarterly financial results on Tuesday, Apple recorded that it has a quarter-trillion dollars in cash in the bank.

That’s a greater hoard than any other companies in U.S. history according to wall street journal, which reported the numbers on Sunday. For comparison, Apple’s coffer exceeds the market value of Walmart and Procter and Gamble. The sum is greater than the foreign cash reserve of the UK and Canada combined.

93% of the company’s cash and other liquid assets are kept overseas. The trump administration has proposed a tax holiday to encourage companies to bring back money to U.S. as well as lower the corporate tax rate. Apple CEO Tim Cook has said that he is interested in moving some of the company’s cash to U.S. if the tax conditions are convenient.

Apple also has around $88 billion in debt to fund shareholder payouts. But even subtracting that amount, Apple has more cash than any other companies. The second richest tech company is Microsoft which has $126 billion.

-via arstechnica 

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