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Apple now has $210.6 billion in cash on hand

Key Points
  • Apple disclosed its cash on hand in its fiscal third-quarter earnings report on Tuesday.
  • The company reported it has $210.6 billion in cash on hand compared with $225.4 billion the previous quarter.
  • The company has been aggressively spending on original content, U.S. job creation and other investments.

Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) on June 03, 2019 in San Jose, California.
Justin Sullivan | Getty Images

Apple now has $210.6 billion cash on hand, according to the company's fiscal third-quarter earnings report released on Tuesday.

That's a 6.6% decline from its fiscal second quarter of 2019, when it reported a cash pile of $225.4 billion. It's down 13.6% from the year-ago quarter.

Apple continues to host one of the largest cash piles of any U.S. company, which has resulted in calls for M&A and other investment. It has been busy on the M&A front, announcing last week that it would acquire Intel's smartphone model division for $1 billion. The deal represents a tiny fraction of Apple's war chest of cash.

The company is spending heavily to expand its lineup of services, including its new Apple TV+ streaming service that will launch in the fall.

Apple has also been investing in U.S. job creation. Last year, it committed to spend $1 billion on a new campus in Austin, Texas, where it will eventually employ 15,000 workers. The move is part of Apple's decision to contribute $350 billion to the U.S. economy over five years with funds made available through tax adjustments.

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source: CNBC


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