Apple’s cash hoard is now bigger than the market cap of GE – CNBC

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Apple’s enormous cash pile swelled to $256.8 billion in the fiscal second quarter, up more than $10 billion from the previous quarter.

That figure means Apple’s war chest is now larger than the market value of General Electric, but smaller than that of Wells Fargo.

The tech giant also reported revenue that missed Street expectations on Tuesday, as iPhone shipments disappointed. The stock fell as much as 2 percent in after-hours trading, as more than 3.9 million shares changed hands.

The company’s cash reserves have long fueled speculation of acquisitions that Apple might make.

Apple keeps most of its cash outside the U.S. for tax reasons, but President Donald Trump and the Republican-controlled Congress are expected to change rules on repatriation of cash stored overseas, which could make it easier for Apple to spend some of the money on acquisitions without taking a major tax hit.

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