For those who arent sure why this is big news, let us provide a bit of scale.
It was common knowledge that Apple is one of the worlds most successful corporations.
The mind boggling part however, is the fact that the company has so much money readily available.
Apple fanboys might miss Steve Jobs, but Apples finances arent apparently.
It has taken Apple less than half a decade to double its cash holdings.
If reports coming in are true, Apple added about $3.6 million every hour to its cash holdings.
It reportedly ended the December quarter with $246.09 billion in cash holdings.
That deal too was reported to be in the single billions which looks like pocket change in comparison.
That 25% difference translates to $55 billion in tax savings for Apple if implemented.
Makes it understandable why Apple has chosen to leave the cash holding offshore instead of investing it.
Alternatively, Apple might also pay its stockholders a one time only dividend.
Possible Purchases
Another possibility however, is that Apple might use this cash fund to acquire businesses.
Although that might be a big purchase, the benefits are evident for anyone following the growing streaming business.
Whatever Apple does, this is a major development for the tech and financial industries.
Source:Phonearena
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source: www.techworm.net
