The Tell: Here’s why dollar traders are watching Apple’s earnings

Apple earnings are due after the stock market’s closing bell, and currency traders will be watching them closely, as the tech giant is one of the largest holders of overseas dollars that could get repatriated to the U.S.

Apple Inc.’s AAPL, +2.32% results are in focus because President Donald Trump’s tax plan incentivized companies to bring cash back home.

Read:Apple earnings: iPhone expectations are down, but anxiety is still high

“As reputedly the largest corporate holder of overseas cash, it will be interesting to see how quickly the company has moved to trim its cash pile following tax cuts earlier this year,” said Steve Barrow, head of G-10 strategy at Standard Bank, in a Tuesday note.

>>> Original Source <<<