How Much Is Apple's Cash Really Worth?
by Mathias Holmstrøm
Introduction
Apple's (AAPL) announcement that it will be returning cash to shareholders by borrowing $17bn has been heavily covered in the media. Journalists have stated that Apple saves $9bn with this maneuver as it can pay the shareholders without bringing its foreign cash back to the US (which will be heavily taxed). However, I think such a statement is very misleading, because Apple still has $102bn of cash in foreign banks, and eventually it needs to be returned. On the other hand, Apple's cash strategy accomplishes two things; read more »
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