Apple To Pump $350 Billion into Economy and Pay $38 Billion In Taxes Thanks To Trump Tax Reform, Will They Buy Netflix?
Apple has announced it will pay $38 billion in taxes to the U.S. government to return money it had stashed overseas. Apple has $252.3 billion in cash abroad.
In addition, the tech giant announced today it has plans to open a new facility and add 20,000 employees over the next five years.
Apple’s new plans include $350 billion in U.S. investments.
Apple bringing ~$250 billion in overseas cash back to US, paying $38 billion in repatriation tax, investing $30 billion in domestic CapEx and creating 20,000 new American jobs thanks to tax reform. https://t.co/r4rgTNFLiY
— Anthony Scaramucci (@Scaramucci) January 17, 2018
Apple’s sudden repatriation of cash and plans to spend billions inside the U.S. economy are thanks in part to President Trump’s tax reform.
The expected return of Apple’s cash has already fueled speculation that Apple might be looking to acquire Netflix.
“The burning question on the Street’s mind is: does Cook make a big bet with this infusion of cash and do a larger deal (e.g. Netflix) to catalyze and jump start its streaming video/content business,” a GBH research note reads.
— Jim Hoft (@gatewaypundit) January 17, 2018