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Apple's Cash Hoard Swells to Record $246Bn

February 1, 2017

[Photo:  Wordlesstech.com]

 

Apple's enormous cash hoard grew to $246billion in the fiscal fourth quarter, up $8.5 billion from the previous quarter.

 

  • That figure is larger than Sri Lanka's estimated 2016 gross domestic product (GDP),
  • but smaller than Denmark's, according to the CIA World Factbook.
  • If Apple's cash pile was its own public company, it would be the 13th largest in the world.

 

The tech giant also reported earnings that beat Wall Street expectations on Tuesday and said it sold more iPhones than expected. The stock jumped more than 3% in after-hours trading.

 

The company's cash reserves have long fueled speculation of acquisitions that Apple might make. Apple keeps most of its cash outside the U.S. for tax reasons, but President Donald Trump and the Republican-controlled Congress are expected to change rules on repatriation of cash stored overseas, which could make it easier for Apple to spend some of the money on acquisitions without taking a major tax hit.