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Apple is bringing back home nearly all of its foreign cash

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Postby Wayne S. Noches on 17 Jan 2018 16:01

Apple is bringing back home nearly all of its foreign cash

Apple CEO Tim Cook (R) and Apple chief design officer Jonathan Ive (L) look at the new Apple iPhone X during an Apple special event at the Steve Jobs Theatre on the Apple Park campus on September 12, 2017 in Cupertino, California.

Apple just announced on Wednesday it will bring back hundreds of billions of dollars from overseas to fund investment in the U.S.

"Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made," the company said in the release.

Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are planning a $245 billion repatriation.

The tax overhaul, which President Donald Trump signed into law last month, also lowered the corporate tax rate to 21 percent from 35 percent.

After the repatriation tax payment, the company will have $207 billion left over from the move it can use for investments, acquisitions, stock buybacks or larger dividends. Apple said it plans more than $30 billion in capital expenditures in the U.S. during the next five years.

Apple had $252.3 billion in overseas cash as of the end of September quarter, according to SEC filings, so that means the company is bringing back nearly all of its foreign cash.

Apple declined to comment to CNBC on the specific repatriation size.

Shares rose slightly after the announcement.

The amount Apple is bringing home is larger than analysts anticipated. Bank of America Merrill Lynch analyst Wamsi Mohan estimated on Wednesday Apple had $236 billion available to be repatriated to the U.S.

One analyst expects the company to increase its share buybacks and dividend program with the funds.

"I think it is more likely that you will see incremental cash return to shareholders in the form of higher dividend and/or incremental share repurchases," Bernstein analyst Toni Sacconaghi said on CNBC's "Power Lunch" Wednesday.

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Postby LeVeL on 17 Jan 2018 16:15

Re: Apple is bringing back home nearly all of its foreign ca

Great news for the shareholders. Will this trickle down though?
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Postby Wayne S. Noches on 17 Jan 2018 17:56

Re: Apple is bringing back home nearly all of its foreign ca

Wayne S. Noches
 
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Postby slamminshaun on 18 Jan 2018 07:51

Re: Apple is bringing back home nearly all of its foreign ca



The tech giant on Wednesday said lower US taxes on international revenue will allow it to invest more heavily in this country. Much of that money will go toward capital expenditures, including more than $10 billion for data centers across the US.

Besides new investments, that figure includes an expected $38 billion in taxes paid on the overseas revenue brought into the US, spending with US suppliers and manufacturers


LOL....

phpBB [media]
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Postby LeVeL on 18 Jan 2018 09:51

Re: Apple is bringing back home nearly all of its foreign ca

slamminshaun wrote:
LOL....

phpBB [media]


It's one thing to be a liberal, but its another thing to be informed. Unfortunately those people were not informed. To be precise most Republicans are not informed about the effects of their Tax plan since most never read it.

The video you posted is similar to those Right-Wingers who hated Obamacare, but loved the Affordable Care Act.
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Postby JMT on 18 Jan 2018 11:57

Re: Apple is bringing back home nearly all of its foreign ca

Tired of winning yet?

Rumors out there that Apple may, or may not, be making a cash offer for Netflix.
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