Apple's pile of cash could cross the quarter-trillion dollar mark tomorrow

Shares of Apple hit an all time high Monday of $US146.19. The tech giant is set to report earnings after the closing bell on Tuesday, May 2.

Last quarter, Apple reported that it had $US246.09 billion total in cash and cash equivalents, the largest such stockpile among publicly traded companies.

Given that Apple has not made any major acquisitions since last quarter, it is likely that Apple’s cash pile will cross $US250 billion for the first time this quarter.

Most of the stockpile is parked overseas. President Donald Trump has spoken frequently about plans to encourage companies to repatriate their overseas cash with a combination of tax incentives and penalties.

Apple CEO Tim Cook expressed his desire to bring some of that cash back to the US earlier this year.

According to Bloomberg, analysts expect Apple to report adjusted EPS of $US2.023 and revenues of $US53.079 billion. Apple has beaten EPS estimates in seven of the last eight quarters. The last miss was the second quarter of 2016.

According to Bloomberg, of the 49 analysts who cover the stock, 39 have a “Buy” rating, nine have a “Hold” rating, and one has a “Sell” rating. The average analyst price target is $US163.30.

Click here for a real-time chart.

NOW WATCH: The Marine Corps is testing a machine gun-wielding robot controlled with just a tablet and a joystick

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at