Apple shares rose by as much as 4 percent in after-hours trading from a $169.10 close Tuesday.
Counterpoint Research's 2017 rankings of top smartphone manufacturers puts Apple in the 10th spot with a market share of 2.4%. The Republican-backed corporate tax cut, which became law late past year, makes it cheaper for Apple to bring back the more than $250 billion it holds overseas.
"My view is that China and the US have an unavoidable mutuality, where the USA only wins if China wins, and China only wins when the US wins - and the whole world only wins when they are both winning".
It does not seem all bad news for Apple.
"Apple can support the stock as the investment thesis evolves from one of product cycle to services-led growth", wrote Dan Morgan of Synovus Trust. Crossvault Capital Management LLC grew its position in shares of Apple by 0.5% in the third quarter. This is an increase from Apple's previous quarterly dividend of $0.63.
It's also hard to quantify how much of the repatriated money is being funneled to shareholders. Apple was hoping to save some money and avoid compounding of taxes.
But investors have been counting on Apple to give shareholders much of the money coming in from overseas, especially after the company said it meant to eventually have little or no excess cash, after accounting for outstanding debt.
The news is likely to squash speculation Apple could temper ever swell out iPhone prices.
Apple Inc lavished cash on its shareholders like no company in history in the first three months of the year and it intends to keep doing so, making the iPhone maker's investors the clearest winners yet from last year's sweeping USA corporate tax cuts.
Cook said that though Apple's market share is low in many emerging markets, including India, Apple is looking to make iPhone the primary choice of consumers.
iPads also fared well throughout the second quarter, sitting at a healthy 9.11 million sales compared to 8.92 the year prior, even without the latest education-focused iPad making the count. By comparison, US companies in April announced a combined total of $50.4 billion in new buyback plans, up from $38.1 billion worth of planned buybacks announced in April 2017, according to TrimTabs Investment Research. Analysts expected 56 cents and $669 million. Apple could become the first US company to ever be valued at $1 trillion. There has been recurring speculation that Apple might try to buy Netflix, a deal that would probably cost at least $150 billion and would break the mould for a company that has shunned major acquisitions through its history. Apple said its board of directors authorized a new $100 billion share-repurchase program, and a 16% increase to the dividend.
Bill Cosby convicted on aggravated sexual assault charges
After the verdict, Cosby's lawyer Tom Mesereau said "the fight is not over" and he will appeal the jury's decision. Cosby's first criminal trial, held in the same Norristown, PA courtroom last June, ended in a mistrial .