AAPL stock is on the rise over 4% at present. Shares are reacting to the company’s fiscal third-quarter earnings report released yesterday. The report showed that Apple (NASDAQ:AAPL) now has $210.6 billion in cash on hand; and despite that being a 6.6% decline from its fiscal second quarter of 2019, shares are on the rise.
AAPL stock is selling for $217.65 USD at present.
AAPL Stock Rising
In Q2 2019, Apple reported a cash pile of $225.4 billion. By comparison, yesterday’s report showed a decline. But despite this, the tech giant still holds one of the largest cash piles of any US company.
With such a large sum to hand, investors have begun calling for M&A and other investments. Apple has listened; last week, it announced the acquisition of Intel’s smartphone model division for $1 billion. Though only a mere dent in the company’s cash pool, it furthers a trend that sees the company invest in US job creation, as well as internal expansion of its services.
US Job Creation
The company committed to spending $1 billion on a new campus in Austin, Texas. Here it expects to employ over 15,000 workers. The move is part of Apple’s decision to contribute $350 billion to the US economy over five years with funds made available through tax adjustments.
AAPL Stock: Affected By Trump Concerns?
But despite its efforts to contribute to the US economy, Apple has come under heavy fire from President Trump for moving part of its new Mac Pro build to China.
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Apple decided to join forces with China’s Quanta Computer Inc to build the $6,000 desktop computer. It will now be partly produced at a Shanghai-based factory.
Trump has called for Apple to move its business back to the US. Though he has conceded that it’s “up to Mr Cook,” he encouraged that if Apple does move some of its Chinese operations to the US, that would be “a very good thing.”
AAPL stock remains on an upward trajectory in 2019. Year-to-date shares have grown over 32%.
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