Apple's quarterly earnings report

Apple's Cash Pile Continues to Grow

Having reported the third highest quarterly profit in its history, Apple’s giant cash pile isn’t getting any smaller. The world’s most profitable company now sits on $246 billion in cash, cash equivalents and marketable securities, most of which is held by its foreign subsidiaries. Much to the displeasure of President Trump, who would like to see that money invested domestically.

However, bringing its overseas cash back to the United States would currently require Apple to pay the corporate tax rate of 35% plus state taxes, which would amount to more than $80 billion – a rate that Tim Cook, as he repeatedly stated, doesn’t consider fair. Luckily for him, the new president doesn’t either.

During his campaign, Trump suggested lowering the tax rate for repatriated cash to 10 percent in order to convince U.S. companies to bring back their money from overseas. During yesterday’s earnings call, Cook expressed his confidence in seeing a tax reform this year. "I am optimistic, given what I’m hearing, that there would likely be some sort of tax reform this year”, Cook said, "and it does seem like there are people in both parties that would favor repatriation as a part of that, so I think that’s very good for the country and good for Apple."

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This chart shows the rise in Apple's cash holdings since 2008.

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Net cash of Apple from 2021 to 2025 (in billion U.S. dollars)
Money held offshore by the largest public U.S. companies between 2008 to 2014 (in million U.S. dollars)
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Net cash of Apple Hospitality Reit, Inc. from 2021 to 2025 (in million U.S. dollars)
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Leading companies in the United States, by cash and cash equivalent holdings in 2015 (in billion U.S. dollars)
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Apple's net income worldwide from fiscal 1st quarter 2005 to 3rd quarter 2026 (in billion U.S. dollars)
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Ranking of the top 30 companies from the Fortune 500 using offshore tax havens to avoid United States taxed based on financial results in 2014, by avoidance method (millions U.S. dollars)

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