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

An anonymous reader quotes a report from Phone Arena: 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.

Comments

Re:I don't mind paying taxes

[lucm]

I don't mind paying my taxes. I get a lot in return.

The sum of all the taxes you will pay over your entire life won't be enough to pay for the fuel spent by Air Force One when Obama went on a single vacation trip in 2015. What did you get for that?