CNBC
August 2, 2017
Apple’s cash pile swelled again this quarter, hitting a record $261.5 billion, compared with $256.8 billion last quarter. That’s up 13 percent year over year.
To put it in context: If all of that money could be put to work today, it would be enough to buy Oracle outright and still have $54 billion left over. It’s also enough to buy Wal-Mart or AT&T outright, based on current market cap.
Other than high-profile investments in Didi and Beats, it’s rare for Apple to make splashy deals. Instead, the company often opts to fuel research and development. The company spent $2.94 billion on research and development during the quarter, up from $2.56 billion a year ago and continuing a nine-month upward trend.
Chief financial officer Luca Maestri told analysts that $246 billion of this cash, or 94 percent of the total, was outside the United States.
This article was posted: Wednesday, August 2, 2017 at 8:17 am
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