Apple’s second quarterly earnings report of 2017 will likely reveal the company now has over a quarter of a trillion dollars of cash stashed in the bank.
The iPhone-maker has so much cash its reserves exceed the foreign-currency reserves of the U.K. and Canada combined. During the last quarter of 2017, Apple’s money-making machine was earning $3.6 million per hour.
All that money is making analysts speculate if a huge acquisition isn’t on the horizon. The only problem is most of the money is overseas.
More money, more taxes
About 93% of Apple’s cash and liquid assets are held in foreign countries. Bringing it back home would hit Apple with a monstrous tax bill, but President Donald Trump recently proposed a one-time tax holiday that would encourage companies like Apple to send that money back to U.S.
With its cash pile back in the U.S. Apple could acquire a giant company or two. Analysts that spoke to the Wall Street Journal suggested Apple could buy Tesla for $51 billion to help its self-driving car project. Netflix could also be a great fit for Apple, and its only valued at $65 billion.
Apple is set to reveal its Q2 2017 earnings tomorrow. Most analysts expect the company to report modest year-over-year growth which will likely keep investors happy until the iPhone 8 shatters sales records later this year.