On Jan. 1, 2018, the biggest, most sweeping U.S. corporate tax cut ever enacted went into effect.

A year later, we’re able to see how businesses used all that extra cash.

The short answer: to buy back shares.

The long answer is slightly more nuanced, but not by much. Bloomberg’s Laura Davison explains on “Bloomberg Technology.”

Direct link to video here.

MacDailyNews Take: The more shares Apple can retire or use to attract and retain quality employees, the better!

SEE ALSO:
U.S. companies repatriated over half a trillion dollars in 2018 – December 31, 2018
Apple gives employees $2,500 bonuses after President Trump signed the GOP’s Tax Cuts and Jobs Act – January 17, 2018
Looks like Apple is bringing nearly all of its $250 billion foreign cash back home to America – January 17, 2018
Apple plans to add $350 billion to U.S. economy and create over 20,000 new jobs over next 5 years, pay $38 billion in repatriated taxes, the largest ever made – January 17, 2018
Apple expected to issue less debt in 2018 now that President Trump has signed the Tax Cuts and Jobs Act – January 16, 2018
U.S Treasury: 90% of U.S. workers likely to see more money in take-home pay next month – January 13, 2018
U.S. again assumes throne as world’s most competitive economy; first time since 2008 – October 17, 2018
U.S. worker pay rate hits highest level since 2008 – July 31, 2018
Apple expected to repatriate $214 billion to the U.S.; expect increased buybacks and dividends, not big acquisitions – December 22, 2017
Congressional Republicans deliver epic overhaul of U.S. tax laws to President Donald Trump – December 20, 2017