Apple now has 2 billion in cash on hand, slightly less than last quarter

Tim Cook, 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 Images

Apple now has $162.1 billion in cash on hand, based on the corporate’s fiscal fourth-quarter earnings report launched Thursday.

The determine is beneath the corporate’s cash pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had round $166.3 billion in cash throughout its fiscal second quarter in 2023.

The firm commonly maintains one of many largest cash piles in the U.S.

Analysts anticipated Apple to submit its fourth consecutive quarter of income decline Thursday. The firm reported $89.50 billion in income and $1.46 per share for its fiscal fourth quarter. Wall Street anticipated $89.28 billion in gross sales, marking a couple of 1% fall from the identical quarter last 12 months.

The September quarter is not often Apple’s greatest or slowest, and this 12 months it solely contains a couple of week of iPhone 15 gross sales. Apple introduced its new iPhone 15 product line in early September, and the gadgets 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

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