Apple Stock News
For the latest Apple Stock News. AAPL closed at $106.82 on Monday, August 30, with a fall of 0.11% or $0.12, from Apple’s previous closing.
Latest Updates on Apple inc:
The buzz this week is mainly revolving around the EU commission’s decision about how much Apple Inc. will be having to pay in back taxes. Over the past couple years, many giants such as Alphabet Inc (Google) and Microsoft, now Apple, have feuds with the EU over antitrust laws as well as tax code violations. The EU is expected, on Tuesday, to report how much of a fine Apple Inc will face for supposed collusion with Ireland, regarding illegal favorable tax treatments. This can cost Apple Inc up to $19 Billion according to JPMorgan Chase & Co.’s Rod Hall; however, other analysts explain that the figure is an unlikely amount Apple will end up paying. Some expect the figure to possibly be as low as just $200 million.
The decision will be closely watched, not just because it involves the largest corporation in the world Apple Inc, but also by many tax and legal experts as a precedent regarding EU laws. The reason is because the main set up of the supremacy doctrine of the EU, are the law-case(s) precedents set by the EU, of which all the countries within must abide by.
Interestingly, Apple Inc. will not be the only one hurt by a penalty. The US taxpayer will as well be, because of how the US Tax Code is structured. Since, large US multinational corporations are able to claim tax credits, for any foreign taxes paid. Although Apple does currently sit on approximately $215 billion in cash, the decision can hurt their future development in new technologies as they expand their R&D beyond just handset devices.
The negative news may cause many investors to overlook the positive news ahead, being the release of the iPhone 7. For investors, specifically short-term, AAPL has historically been on the rise prior to the release of a new model, and even more so with many tech changes being discussed regarding this model. Therefore, investors looking to make a quick gain can profit handsomely on these negative news, and buy low and sell high post announcements.
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