Apple now has $245 billion cash on hand, up 3% from previous quarter

Apple beats on earnings—here’s what three experts are saying about the stock now

Apple beats on earnings—here’s what three experts are saying about the stock now  12 Hours Ago | 03:03

Apple now has $245 billion cash on hand, according to its first-quarter 2019 earnings report.

That’s 3 percent more than it had on hand in the previous quarter, when it reported $237.1 billion in cash. Apple said a year ago it would be contributing $350 billion to the U.S. over the next five years due in part to the new tax law. Part of this contribution will come through taxes on repatriated cash, the company has said.

Apple is also investing $1 billion to build a new campus in Austin, Texas, for an initial 5,000 employees, with the capacity for 15,000 total. When it announced the new campus in December, Apple said it would also be adding new sites and adding over 1,000 employees in Seattle, San Diego and Culver City, California, over the next three years. Apple also said at the time it will expand its existing operations in Boulder, Colorado; Portland, Oregon; New York, Pittsburgh and Boston.

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