Republicans Could Help Apple (AAPL) Repatriate Over $100 Billion in Cash
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Apple (NASDAQ: AAPL) is seen as a potential beneficiary to the Republican victory in the Senate and gains in the House on positive chatter about cash repatriation.
Compass Point's Isaac Boltansky said, "... we have a high degree of confidence that Republican lawmakers will advance the tax repatriation debate early in the next Congress which is likely to be viewed as a positive for firms with excess cash abroad such as Apple (NASDAQ: AAPL), JP Morgan (NYSE: JPM), and Diebold (NYSE: DBD)."
He added, "Efforts to reform the treatment of repatriated funds – either through a repatriation holiday or a permanent change – could gain traction as it appears Republicans plan to offer repatriation as a budgetary offset for a broader transportation bill."
Apple had $155.3 billion in cash and equivalence at the end of the latest quarter, of that $137.1 billion were held by foreign subsidiaries.
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