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Apple’s Cash Stock Increased To Record $246.09 Billion
Apple had made it New Year on a brilliant remark that was the large cash quantity which was enlarged by $246.09 billion in the financial fourth quarter. According to the CIA – The World Factbook, the amount is superior to Sri Lanka’s 2016 gross domestic product and smaller than Denmark’s. If we compare the other companies with the Apple, it will be the 13th richest state in the world.
In the quarter end of December 2016 Apple dispatch its iPhone sales details according to SEC report on Tuesday this cash stock is recorded after the rejection of three iPhone of Apple. In spite of not getting a good response in three iPhone constantly, Apple managed to expand their cash to $246.09 billion. The company’s reserve rose up to 3 percent more in after-hours trading as more than 6.8 million shares in the exchange offer.
Monthly income improved about $2.5 billion from the past year while the income of per share enlarges by $0.08. The gain dropped somewhat to $17.9 billion and this happened because of a high cost of production of iPhone. The Apple CEO Tim Cook said that “they are overjoyed with the statement of their holiday section which had created the maximum income ever and had broken the record ever. The Apple Company had sold lots of iPhones, Services, Mac, and Apple Watch than ever before”.
The Apple Company had written a letter to its investors that “the income from the facility had risen over last year activity on the App Store used by the users are very high and the company is thrilled for the channel”. The tax has influenced the tech company Apple to keep their surplus $200 billion in cash outside the United States.
President Donald Trump and the Republican-controlled Congress can modify the law to keep cash out of the country. This rule can help Apple to get the cash stored in out of the country without any compensation. Tim Cook also added that he is hopeful for the prediction of the new law of not keeping cash out of the country.