“Apple, for its part, distanced itself from Trump. It reversed its longstanding practice and didn’t provide support to this year’s Republican National Convention. CEO Tim Cook told Time in March that he hadn’t talked directly with Trump about the issues,” Fried writes. “But, in a clearly prescient move, Cook maintained some ties to the GOP, hosting a fundraiser for House speaker Paul Ryan this summer.”“Tim Cook’s biggest hope has to be that Donald Trump didn’t mean a lot of what he said, and that it was the rhetoric of a politician looking to get elected,” Fried writes. “The silver lining for Apple (and other cash-rich tech companies) is that they may finally get to bring home billions of dollars in profits recorded and stored overseas. And if Trump follows through on plans to lower corporate taxes in general, Apple and other tech companies won’t have the same incentive to store cash overseas in the future.”
Read more in the full article here.
MacDailyNews Take: Apprehensive?
Fire up your Breathe app, relax, and consider:
The press takes him literally, but not seriously; his supporters take him seriously, but not literally.
—— Salena Zito, The Atlantic, September 23, 2016
Apple could be able to pay just 10% tax to repatriate overseas profits under President Trump’s plan – November 9, 2016
Apple may repatriate billions of dollars next year after new U.S. President takes office – September 1, 2016
With next U.S. President, Apple’s cash may soon be on its way home – August 25, 2016
Apple CEO Tim Cook presses for U.S. corporate tax reform, says no repatriation without fair rate – August 15, 2016
Donald Trump plan calls for cuts in corporate taxes, personal income tax rates – August 9, 2016
Apple CEO Tim Cook has billions of reasons to raise money for the GOP – June 29, 2016
Nancy Pelosi blasts Apple CEO Tim Cook for hosting GOP fundraiser – June 28, 2016
Apple CEO Cook to host Paul Ryan fundraiser as company tries to strengthen relationships with key Republicans – June 20, 2016
Debt-free Apple to take on debt to avoid huge U.S. repatriation tax hit – April 26, 2013