Apple’s stock is at an all-time high this year, making it the best performer in the Dow. And is now worth around $750 billion more than Google parent Alphabet which is worth approximately $590 billion.
A reason for this could be the tax reform plans from President Trump. It is ironic considering that many tech companies, including Apple, are against Trump for his proposed immigration ban on people from several predominantly Muslim countries.
But if Trump succeeds in changing tax laws that make it easier for companies to bring back cash from overseas to the US, then Apple and other companies such as Microsoft could benefit. The expectation is that a lower tax rate to bring back cash from overseas would encourage Apple and others to buy back stock, increase dividends, acquire companies, boost research and development expenses, and hire more workers. With the release of the next iPhone later this year, this is the 10th anniversary of the iconic device and there are rumours that it will be named with a Roman numeral – the iPhone X.
Speculation about the new iPhone’s features include wireless charging, no home button, virtual reality capabilities, facial recognition scanning, and a curvier screen. Apple has also revealed a new special edition red iPhone 7 and iPhone Plus.
This is due to a partnership with RED – a charitable organization that raises awareness and money for the fight against HIV/AIDS.