It’s still unclear what Apple plans to do with its billions in overseas cash
Apple over the past few years has found itself in an interesting and enviable position; thanks to the raging success of the margin-friendly iPhone, Apple has long had more cash than it knows what to do with. Compounding matters is that the vast majority of Apple's current cash hoard -- which now totals more than $269 billion -- is located overseas. That being the case, Apple has historically been reluctant to bring that cash back to the U.S. so as to avoid a corporate income tax rate of 35%.
Thanks to the recently passed Republican tax plan, however, Apple has an opportunity to take advantage of a one-time tax holiday that will allow it to bring back as much as cash as it wants and only incur a tax rate of 15.5%. In turn, many analysts in recent weeks have been speculating about what Apple may ultimately do once it brings back potentially tens upon tens of billions in cash.
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It’s still unclear what Apple plans to do with its billions in overseas cash originally appeared on BGR.com on Wed, 10 Jan 2018 at 22:02:06 EDT. Please see our terms for use of feeds.