Apple's cash pile hits $285.1 billion, a record

[Hamartia Antidote]

https://www.cnbc.com/2018/02/01/apple-earnings-q1-2018-how-much-money-does-apple-have.html

Apple's cash reserves hit $285.1 billion in the quarter ended in December, a record, reflecting the company's move to high-priced handsets and new tax regulations.

That's compared with $268.9 billion in the prior quarter. The increase in cash was disclosed Thursday in Apple's earnings report.

Apple has said it plans to make $38 billion in tax payments to reflect new tax rules passed last year. Wall Street has speculated that the lower tax rates may open the door for the tech giant to bring back cash from overseas and put it to work through acquisitions or by returning money to shareholders.

Apple has already revealed some spending goals: The iPhone maker says it will contribute $350 billion to the U.S. economy over the next five years, in the form of payments to suppliers, capital expenditures, advanced manufacturing investments and jobs.

It is also investing in expanding its content services and operations in emerging markets like India.

 

[Thanatos]

Unbelievable, the money that these giant tech companies are making is stunning.

 

[Hamartia Antidote]

Unbelievable, the money that these giant tech companies are making is stunning.

It's even crazier considering like 95% of phone profits go to Samsung and Apple. Everybody else is fighting for the other 5%. Their margins are razor thin.

 

[xenon54 out]

No wonder with iSheeps ready to pay 1'400$ for a phone thats gonna be ''old'' in 2 years max.

 

[MultaniGuy]

Overrated and overpriced Iphones are not worth it.

I never buy Apple products.

I have an LG smartphone.

 

[Chaosmaster]

Hmm, so in layman terms apple is richer than many countries!!!!