“Apple’s mound of cash and cash equivalents continued to scrape the cloudline this quarter, coming in at $268.9 billion in the company’s quarterly earnings report.,” Anita Balakrishnan reports for CNBC.
“Shares popped more than 3 percent after hours, as the market capitalization of the company crested $900 billion,” Balakrishnan reports. “Apple’s cash holdings, now up $7.4 billion from a quarter ago, could become more potent than ever very soon.”
“A new tax reform plan from House Republicans aims to permanently lower the corporate tax rate to 20 percent, and calls for one-time tax rate of 12 percent on cash returns and 5 percent on non-cash for corporate money repatriated from overseas,” Balakrishnan reports. “‘You want people to use this money in the United States to invest more,’ Apple CEO Tim Cook told CNBC’s Jim Cramer in May.”
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