Apple Has $202 Billion in Cash – Shares Dip 10%




/ 9 years ago

apple

Apple has earned $202 billion in cash alone – more than any other company – but the tech giant has taken a huge hit on Wall Street. Despite crossing the $200 billion in cash mark for the first time, shares in Apple dipped by as much as 10% this week following a worse-than-expected projection for the latest quarter of 2015. A mixed period has seen iPhone sales down, while growth in China has doubled, and Apple Watch sales are as-of-yet undisclosed.

Apple’s cash haul compares favourably to its closest market rival; Google – producer of the Android mobile operating system – earned $62 billion in cash and marketable securities during the last quarter. Apple’s $202 billion in cash, though, carries some risks. Two Apple shareholders in particular – Carl Icahn and David Einhorn – have been pushing the company to reduce its cash hoard, wanting it to convert it instead into assets. The US taxman is also side-eying Apple’s piggybank, since $158 billion of it is banked overseas, and so out of its jurisdiction.

Despite the promising news of Apple’s growth in China, the country has been hit recently by a financial crisis, with fears that its stock market crash could have a knock-on effect on the company’s trading there. “We remain extremely bullish on China, and we continue to invest. Nothing that has happened has changed our fundamental view that China will be Apple’s largest market at some point in the future,” Apple CEO Tim Cook said. “We are not changing anything. We have our pedal to the metal.”

Thank you Mashable for providing us with this information.


Topics: , , , , , ,

Support eTeknix.com

By supporting eTeknix, you help us grow and continue to bring you the latest newsreviews, and competitions. Follow us on FacebookTwitter and Instagram to keep up with the latest technology news, reviews and more. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!

Looking for more exciting features on the latest technology? Check out our What We Know So Far section or our Fun Reads for some interesting original features.

eTeknix Facebook eTeknix Twitter eTeknix Instagram eTeknix Instagram
  • Be Social With eTeknix

    Facebook Twitter YouTube Instagram Reddit RSS Discord Patreon TikTok Twitch
  • Features


Send this to a friend
})