Despite Dip in Cash Apple to Continue to Buy Back Shares, Raises Dividend
Apple's (NASDAQ: AAPL) huge cash position fell 7.4% year-over-year in its fiscal second quarter, but that isn't stopping the iPhone maker from buying back shares and raising its dividend.
In conjunction with Apple's second-quarter earnings report, the tech company said it has cash on hand of $192.8 billion, compared to the $207.06 billion as of the end of its fiscal first quarter. That was before the COVID-19 pandemic struck, hurting the supply chain and forcing Apple to close all its stores outside of China. At the same time, Apple has continued to churn out new products, launching a new iPad and a low-cost iPhone during its second quarter. It generated operating cash flow of $13.3 billion in the second quarter, up $2.2 billion year-over-year.
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Source Fool.com
