NEW YORK, May 3, 2017 /PRNewswire/ -- Apple's cash reserve reaches over $256 billion, making it larger then the market capitalization of General Electric report Excon Fuji Securities.
Apple, one of the most valuable companies in the world it comes as no surprise that they have now obtained cash reserve of $256 billion U.S dollars; in their most recent quarter they were at $233 billion.
The company's cash reserves have long fueled speculation of acquisitions that Apple might make, with more rumors suggesting that they are entering the electric car market.
With Apple keeping majority of its cash holdings outside the U.S mainly for tax reasons, US President Donald Trump has made it clear that the rules on repatriation of cash held overseas will change, what that means is that when Apple spend money on acquisitions they will do so without taking a major tax hit.
Apple CEO Tim Cook has stated in his last earnings report in February that the company are considering a major acquisition that will force the company to extract deep into its cash reserves.
Charles Hall, Director of Corporate Equities at Excon Fuji Securities said, "While Apple has yet announced such a deal despite many reports, majority of analysts are extremely bullish on its stock over a long-term period."
With Apple breaking new records, the stock has soared over 26 percent in 2017; with its market capitalization increasing due to share buybacks.
About Excon Fuji Securities
Excon Fuji Securities is a long-established private international investment brokerage. Providing private retail and corporate clients a broad range of financial markets and instruments. With over $7 billion (USD) under management and growing, our vision is to become a renowned industry leader in investment services throughout North America, Europe, Asia-Pacific and Australasia.
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SOURCE Excon Fuji Securities