Tim Cook dinner, chief government officer of Apple Inc., throughout an occasion at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023.
David Paul Morris | Bloomberg | Getty Pictures
Apple now has $162.1 billion in money readily available, in keeping with the corporate’s fiscal fourth-quarter earnings report launched Thursday.
The determine is under the corporate’s money pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had round $166.3 billion in money throughout its fiscal second quarter in 2023.
The corporate commonly maintains one of many largest money piles within the U.S.
Analysts anticipated Apple to submit its fourth consecutive quarter of income decline Thursday. The corporate reported $89.50 billion in income and $1.46 per share for its fiscal fourth quarter. Wall Road anticipated $89.28 billion in gross sales, marking a couple of 1% fall from the identical quarter final yr.
The September quarter is not often Apple’s greatest or slowest, and this yr it solely consists of a couple of week of iPhone 15 gross sales. Apple introduced its new iPhone 15 product line in early September, and the units hit cabinets later that month.
Apple’s fiscal fourth quarter interval does embrace some back-to-school laptop computer and pill spending, which regularly advantages its Mac and iPad divisions.
–CNBC’s Kif Leswing contributed to this report
