Apple's pile of cash could cross the quarter-trillion dollar mark tomorrow
Shares of Apple hit an all time high Monday of $146.19. The tech giant is set to report earnings after the closing bell on Tuesday, May 2.
Last quarter, Apple reported that it had $246.09 billion total in cash and cash equivalents, the largest such stockpile among publicly traded companies.
Given that Apple has not made any major acquisitions since last quarter, it is likely that Apple's cash pile will cross $250 billion for the first time this quarter.
Most of the stockpile is parked overseas. President Donald Trump has spoken frequently about plans to encourage companies to repatriate their overseas cash with a combination of tax incentives and penalties.
Apple CEO Tim Cook expressed his desire to bring some of that cash back to the US earlier this year.
According to Bloomberg, analysts expect Apple to report adjusted EPS of $2.023 and revenues of $53.079 billion. Apple has beaten EPS estimates in seven of the last eight quarters. The last miss was the second quarter of 2016.
According to Bloomberg, of the 49 analysts who cover the stock, 39 have a "Buy" rating, nine have a "Hold" rating, and one has a "Sell" rating. The average analyst price target is $163.30.
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