MarketWatch First Take: Apple’s tax shift means less cash than you think — but still plenty for a big acquisition

Apple Inc. appears ready to spend a big chunk of the cash it has left overseas for years after new tax laws included a reduced repatriation rate, but how much will still remain and what will the company do with it?

It appears Apple AAPL, +1.65% could theoretically have more than $40 billion in net cash and equivalents after detailing its plans Wednesday to spend heavily in the U.S. As of the end of September, Apple had $252.3 billion outside the U.S., 94% of its total cash and equivalents, and said Wednesday it would spend $38 billion on repatriation taxes as the result of new U.S.

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