Following on from the news that Apple has been ordered to pay an eye-watering €13 billion in unpaid taxes by the European Commission it raises the question: Just how much money does Apple have?
In January the company’s CEO Tim Cook revealed that Apple had around $215 billion in reserves.
This, like many of its announcements before, prompted the media to do comparisons to various country GDPs etc (even we’ve done them) and to some extent there’s nothing wrong with that.
It’s a helpful and visually clear way of putting across what is ostensibly an unimaginably vast sum of money.
In this instance however it’s actually important to remember that while it does have $215 billion, it’s not just sitting in a bank account waiting to be withdrawn at Apple’s leisure.
Jeremy C Owens of MarketWatch was able to break down Apple’s reserves into its various parts and found some pretty interesting results.
Apple actually only has around $16bn lying around in cash, the rest is almost all stored away in long-term investments.
Another interesting fact courtesy of Owens’ research is that 93 per cent of the $200 billion are in fact stored overseas.
It would cost Apple 40 per cent of that total amount to bring it back to the US, something which it is probably not prepared to do.
Of course all of this could become null a void if Apple and Ireland are able to overturn the decision, something which both seem incredibly confident of doing.
That being said, it’s always interesting to take a look, albeit brief, into a company that’s able to spend $5 billion on its new headquarters.
Best Smartphones To Buy In 2016:
This is Apple’s best iPhone ever
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This is Google’s iPhone. It’s that simple. As such there are achievements and compromises. If you’re after an incredibly well-built, powerful Android flagship, Google have given you a truly five-star smartphone. If you’re a photographer, the Pixel’s camera and cloud storage option make this a no brainer. It's not cheap though, with the XL costing over £800.
The OnePlus 3T is simply a continuation of the ethos that makes OnePlus phones so good. It’s exceptionally well-built, powerful and offers you everything you could want in an affordable and meaningful package. No smartphone will give you more value for money.
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Incredibly, Apple's familiar-looking iPhone SE
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The LG G5
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The Huawei P9 is a smartphone designed for capturing life. Thanks to a partnership with photography legends Leica this dual-lens camera can take pictures that'll put your dedicated camera to shame. Of course it helps that the P9 is also a pretty great Android smartphone as well.
The Nexus 5X
strikes the ultimate balance between power and affordability. Taking over the responsibility from the frankly excellent Nexus 5, Google's new smartphone boast an ultra-light body but still crams in a fingerprint sensor, the latest version of Android marshmallow and a Full-HD display.