Apple continues on a roll as the iPhone manufacturer has turned around declining sales for their flagship smartphone with the first quarterly sales increase in a year.
Apple sold 78.29 million iPhones in the first quarter ended December 31, up from 74.78 million last year.
However, the bigger news is the cash hoard Apple continues to shelter offshore, which grew to an eye-popping $246 billion in the fiscal first quarter.
But the question is: What they are going to do with that cash?
That answer rests with the Trump administration and whether they will issue a much talked about tax holiday.
This would allow U.S. corporations to repatriate literally trillions of dollars back to the U.S. at a much-reduced tax rate, and put those funds to work in the U.S. economy – a major cog in the Trump economic plan – instead of just continuing to amass the cash offshore.