Apple Falls on Concerns About Trump's Tax Reform
- Shares down most since November, along with other tech stocks
- Apple has $240 billion in cash reserves outside the U.S.
What the Recent White House Tumult Means for Tax Reform
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Apple Inc. fell the most in six months as controversy surrounding President Donald Trump’s administration prompted investor concern about the likelihood of tax reforms being passed.
Apple has $240 billion in cash and equivalents outside the U.S., about 93 percent of its total reserves, and Trump has proposed a tax cut to repatriate offshore holdings. The stock fell as much as 3.5 percent, the most since November, to $150, while the S&P 500 fell as much as 1.4 percent.