For years, Apple has been reluctant to return the billions of dollars it had stashed overseas and spend it in the U.S. because of the inevitable tax hit. But now everything has changed.
Apple this week confirmed that it will repatriate its nearly quarter-trillion-dollar cash hoard and pay $38 billion in taxes on it. The move will free up the remaining sum to be used for investment in the U.S. But some market watchers believe Apple will use a large portion of the cash on an acquisition (or two).
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Meanwhile, Apple confirmed that it’s planning to open a second campus in the U.S. at some point and it appears to be nearing the release of its long-awaited HomePod smart speaker.
Overall, it’s been a busy week of speculation about Apple. And we’ll look at all of that in this week’s roundup.
Apple announced this week plans to repatriate nearly $250 billion in cash from overseas to the U.S. The move will free up that cash, minus taxes, to be used how the company …read more
Source:: Fortune.com – Tech