“Happy quadruple-witching St. Patrick’s Day,” Barbara Kollmeyer writes for MarketWatch. “Now that’s something you don’t you get to say too often.”

“It’s been a busy week for POTUS — who has taken a lot of heat over the updated travel ban and his budget — and Friday’s G-20 meeting could bring him more flak on trade. Watch currencies as the U.S. side has been complaining over China and the euro,” Kollmeyer writes. “That brings us to our call of the day, which lays out one reason why you may want to raise a Guinness to President No. 45.”

U.S. President Donald Trump

U.S. President Donald Trump

“Andy Hargreaves and the team at Pacific Crest have just raised their bull-case estimate on Apple to $175 per share. They base that on a key campaign promise of President Donald Trump,” Kollmeyer reports. “Last year, Trump floated the idea of a repatriation tax holiday for corporations, meaning they could bring cash held overseas back home without a huge penalty. Should that become a reality, Pacific Crest analysts see Apple boosting its domestic cash balance by $204 billion to $220 billion.”

“Apple’s current dividend per share of $2.28 could easily double to around $4.56, said Pacific Crest. A higher dividend payout would help support shares,” Kollmeyer reports. “And this would help drive Apple to $175 per share…”

Read more in the full article here.

MacDailyNews Take: As we wrote last September:

Let’s not do another “one-time-only” (smirk) repatriation holiday. Let’s fix the broken U.S. corporate tax code instead. Let us eschew the easy way out, that fixes nothing in the long run, and choose to do the hard work instead.

SEE ALSO:
Apple raises $10 billion in debt ahead of President Trump’s repatriation tax plans – February 3, 2017
After Apple’s blowout earnings, the Street looks toward ‘iPhone X’ and President Trump’s tax reforms – February 3, 2017
President-elect Trump’s corporate tax reform expected to have some positive impact on Apple EPS – January 14, 2017
Exploring Apple’s tax situation under U.S. President Donald Trump – November 21, 2016
Morgan Stanley: Apple stands to benefit the most from President Trump’s corporate tax plans – November 11, 2016
Apple and U.S. President-elect Trump: Can a tax cut for overseas cash heal wounds? – November 10, 2016
Donald Trump plan calls for cuts in corporate taxes, personal income tax rates – August 9, 2016
Barring a tax holiday, Apple will need to raise over $50 billion in debt the next 2 years – July 15, 2016
Cramer: Apple’s Tim Cook is ‘patriotic’ on taxes – December 21, 2015
Apple CEO Tim Cook is absolutely right – and wrong – on U.S. corporate tax policy – December 20, 2015
Apple CEO calls corporate tax rap ‘total political crap’ – December 18, 2015
Apple avoids $59.2 billion U.S. tax bill – October 7, 2015
U.S. companies now have $2.1 trillion overseas to avoid corporate taxes – March 4, 2015