Apple now has $192.8 billion in money on hand, down from final quarter

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Apple now has $192.8 billion cash on hand, according to a company’s mercantile second-quarter gain news expelled Thursday. 

That’s down 7.4% from a mercantile initial entertain of 2020, when a association reported a $207.06 billion money pile.

Apple has invariably hosted one of a largest money piles among U.S. companies yet is confronting vigour from a Covid-19 pandemic.  

Apple will continue to buy behind a batch amid a pandemic, a association said. It has certified an boost of $50 billion in a company’s share repurchase program, in serve to a division of $0.82 per share. In Apple’s mercantile 2019, it spent $67.1 billion repurchasing shares and $14.1 billion on dividends.

The company’s sell stores around a world, solely in China and one in Korea, are sealed until serve notice. Still, Apple has continued to launch products in a second entertain amid signs of a tellurian mercantile slowdown.

Apple reported that a iPhone income was down 7% year over year, yet that was partially lonesome by a 16% arise in services revenue. Total income expansion for a entertain decreased to 0.5% from 9% one entertain ago.

“It was a really singular quarter. I’ve never had anything utterly like this. we wish to never have it again, yet I’m impossibly unapproachable of a association and what was achieved during that duration of time,” Apple CEO Tim Cook told CNBC’s Josh Lipton.

Apple shares fell somewhat in extended trade after a company reported $58.3 billion in income and gain of $2.55 per share. 

— CNBC’s Kif Leswing contributed to this report.

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