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Apple has $163 billion to burn, and Tim Cook plans to spend it

Apple Inc. left things vague last month when it announced a plan to invest money from its sizable cash balance into the U.S. economy, but the company was more direct about its plans Thursday—Apple is going to spend more than $160 billion of its own money.

“Our current net cash position is $163 billion, and given the increased financial and operational flexibility from the access to our foreign cash, we are targeting to become approximately net-cash neutral over time,” CFO Luca Maestri said on the company’s earnings call.

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