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Economy
Apple announces plans to repatriate $350 billion in overseas cash
2018-01-18
[CNBC] The headline from Apple is that it will make a $350 billion "contribution" to the U.S. economy over the next five years, although it's unclear exactly how the company came to that number.

The company also promised to create 20,000 new jobs and open a new campus.

It said it expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States. This implies it will repatriate virtually all of its $250 billion in overseas cash.

Apple also said it will spend over $30 billion in capital expenditures over the next five years. About $10 billion in capital expenditures will be investments in U.S. data centers, the company said.

Apple added that it will spend $5 billion as part of an innovation fund, up from the $1 billion CEO Tim Cook announced last year on CNBC's "Mad Money."

The job creation will include direct employment and also suppliers and its app business, which it had already planned to grow substantially (app developers earned $26.5 billion in 2017.) The new campus will focus on customer support.

Wednesday's announcement indicates that Apple will still have hundreds of billions of dollars in cash. It could spend that money on buybacks, dividends or acquisitions or moonshot projects.
Posted by:Besoeker

#8  In Dallas, next to Amazon’s fulfillment center.
A step up and over HP and Dell still doing their own logistics.
Posted by: Skidmark   2018-01-18 11:49  

#7  They gonna put that new campus in California? Huh? Huh?
Posted by: Abu Uluque   2018-01-18 11:11  

#6  In a way I think all this is very sad. It's unjust, unfair, and a losing strategy that guys like Apple and Google don't get all the socialism they wish on the rest of us.
Posted by: Thing From Snowy Mountain   2018-01-18 10:48  

#5  All this ‘good’ and their commuter busses still are targets.
Posted by: Skidmark   2018-01-18 09:40  

#4  The left-wing elitist think that they are entitled. Paying taxes is for the little people.
Posted by: W. Mussolini3963   2018-01-18 08:36  

#3  Isn't it funny how these big companies are run by such left wing people but act like such capitalists? I think it is downright Republican of them to wait to move the money! They need to be fined for withhold such funds from its rightful masters of government and for the people!!!
Posted by: DarthVader   2018-01-18 08:22  

#2  Government seems to be the biggest cost of business.
Posted by: Bright Pebbles   2018-01-18 04:49  

#1  It's funny what happens when you lower the cost of doing business, especially over the howling objections of all the Democrats and nearly every member of the media, isn't it?
Posted by: Raj   2018-01-18 00:11  

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