Apple has nearly $250 billion stashed away — most of it outside of America

Apple is sitting on overseas cash.
(Image credit: Scott Barbour/Getty Images)

Apple reported having a record $246.1 billion in cash reserves in the fourth quarter of 2016, larger than Sri Lanka's estimated 2016 GDP. If counted as its own public company, Apple's cash hoard by itself would be the 13th-largest firm in the world, CNBC reports.

Most of that money is held outside the U.S. to avoid taxation. But President Trump's proposed repatriation scheme could encourage Apple to bring some of that cash back into the country, where experts suspect it would be used to acquire other companies. Last month, CEO Tim Cook said Apple is "always looking at acquisitions" of companies "of all sizes." Apple has purchased about 15 to 20 companies a year for the last four years, Cook said.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us