TECH

Apple's Expected To Reveal Cash Reserves Exceeding $250bn

Most of it is offshore.

02/05/2017 11:35 | Updated 02 May 2017

Apple is expected to report today (2 May) that its cash pile has surpassed the quarter of a trillion dollar mark for the first time.

The iPhone maker, which is already the richest company in the world, is likely to announce that it made $10bn in the last three months, according to WSJ, growing its reserves to around $255bn.

A cash pile of that size dwarfs the foreign-currency reserves of the UK and Canadian governments combined.

Stephen Lam / Reuters

In January, Apple announced that its cash pile had increased to $246bn, 93% of which ($230bn) was located in offshore subsidiaries.

The Trump administration is seeking to lower corporation tax from 35% to 15% in a bid to encourage companies like Apple to repatriate their holdings.

During the firm’s last earnings call in January, CEO Tim Cook said he thought tax reform would be “good for the country and good for Apple”. But the move to slash corporation tax is expected to meet stiff opposition in Congress.

Apple’s holdings have more than doubled in the last five years. 

The Best Smartphones You Can Buy In 2017

  • Apple iPhone 7
    Eduardo Munoz / Reuters
    This is Apple’s best iPhone ever, and if we’re honest it’s one of their most innovative devices yet. It has an incredible camera, is water-resistant and boasts a stunning bright new display. Of course it can’t escape the rumours surrounding next year’s device but if you’re looking to buy a smartphone right now, and Apple are on your radar, this is the phone for you.
  • Google Pixel
    The Huffington Post UK
    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.
  • OnePlus 3T
    The Huffington Post UK
    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.
  • Samsung Galaxy S7 edge
    Bloomberg via Getty Images
    With a new curved back and larger 5.5-inch display the Samsung Galaxy S7 edge is more about evolution than revolution. The S7 edge now sports a water-resistant body, embedded camera and a MicroSD card slot. The S7 edge is also Samsung's most powerful smartphone yet, so powerful in fact that Samsung have actually had to equip a tiny water-cooling system inside the phone. The good news though is that means you'll never have to worry about getting a warm hand.
  • Apple iPhone SE
    The Huffington Post UK
    Incredibly, Apple's familiar-looking iPhone SE manages to boast the same performance as its top-of-the-range iPhone 6s making it the most powerful 4-inch smartphone available. If you're keen to return to the days of one-handed texting then Apple's bite-sized iPhone is the smartphone for you.
  • LG G5
    ASSOCIATED PRESS
    The LG G5 sets itself apart from rivals like the S7, Xperia XA and the iPhone 6s by being something utterly unique. The G5 is the first commercial 'modular' phone, allowing you to swap out the bottom for new accessories. So far there's an audio one made in partnership with Bang & Olufsen and a camera-focused attachment which gives you extra camera controls.
  • Huawei P9
    JACK TAYLOR via Getty Images
    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.
  • Google Nexus 5X
    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.
Suggest a correction
Comments

CONVERSATIONS