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Tim Cook, chief executive officer of Apple Inc., during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023.Â
David Paul Morris | Bloomberg | Getty Images
Apple now has $162.1 billion in cash on hand, according to the company’s fiscal fourth-quarter earnings report released Thursday.
The figure is below the company’s cash pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had around $166.3 billion in cash during its fiscal second quarter in 2023.
The company regularly maintains one of the largest cash piles in the U.S.
Analysts expected Apple to post its fourth consecutive quarter of revenue decline Thursday. The company reported $89.50 billion in revenue and $1.46 per share for its fiscal fourth quarter. Wall Street anticipated $89.28 billion in sales, marking about a 1% fall from the same quarter last year.
The September quarter isn’t usually Apple’s biggest or slowest, and this year it only includes about a week of iPhone 15 sales. Apple announced its new iPhone 15 product line in early September, and the devices hit shelves later that month.
Apple’s fiscal fourth quarter period does include some back-to-school laptop and tablet spending, which often benefits its Mac and iPad divisions.
–CNBC’s Kif Leswing contributed to this report
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