Apple has managed to rake in $45.4 billion in the June quarter and the company now reportedly has over $261 billion in cash reserve.
Apple has just announced what it has earned in the third quarter and the results are good for the company. The tech giant managed to rake in $45.4 billion in the June quarter and the company now reportedly has over $261 billion in cash reserve. According to Vala Afshar, Chief Digital Evangelist at Salesforce, with this money, Apple can buy other tech majors like Uber, Tesla, Netflix, Airbnb and Twitter, “…and still have $29 billion left”. When Apple announced the earnings, it got social media buzzing about the fact that Apple has a mountain of cash. The cash pile is a result of huge profits Apple has gained from selling iPhones, iPads and apps. Meanwhile, the company has also made investments in other ventures as well as made many acquisitions. Apple is also known for rolling out a lot of money for research and development too.
Interestingly, Apple informed that 94 percent of that cash was stored outside of the US. This maybe because the money is subjected to US taxes, but with President Donald Trump promising a tax holiday, Apple may be lured in to put a lot of the cash in the country itself. Questions are flooding the internet on what Apple will do with the money, whether it will help boost economies, or if it will use it instead of rewarding shareholders with dividends. Meanwhile, there are a lot of funny reactions on this, which Twitter users have used their creativity for. People have even compared the cash Apple has with the cash reserve of many countries. So spare reality for a moment and checkout the hilarious reactions on Apple’s massive cash pile:
— Satya ???? (@iamDeveloper) August 2, 2017
it’s weird how no one writes about how much cash apple has in comparison to countries’ gross domestic products
— Matthew Zeitlin (@MattZeitlin) August 1, 2017
Apple should put $20 billion of their $260 billion in a perpetual trust to pay down student loans for deserving kids.
— Downtown Josh Brown (@ReformedBroker) August 2, 2017
— Ahmed Afifi (@ahmedbafifi) August 1, 2017
Apple has a cash balance of $261.5 billion. That’s enough to buy every single team in the NFL, NBA, NHL and MLB.
— Shane O’Brien (@ShaneO_Brien) August 1, 2017
Now Apple can buy Poland and Twitter and Snap.
— Russian Market (@russian_market) August 1, 2017
Apple currently has more cash than the GDP of Jupiter and Mars combined
— Ben Carlson (@awealthofcs) August 1, 2017
Apple has $261.5 billion in cash. It could buy:
…and still have $29 billion left. $AAPL
— Vala Afshar (@ValaAfshar) August 1, 2017
Apart from all these, there are other ideas too on what Apple can do with $261 billion cash: give away 300 million iPhones, buy the world’s most expensive footballer (Paul Pogba) over 2000 times, give away $35 to each person on the planet, and more.