Down From Last Quarter But Now Apple Has $192.8 Billion In Cash On Hand

Apple has continuously hosted one of the largest cash piles among U.S. companies – but its cash on hand has taken a hit amid the coronavirus crisis. 

The tech giant now has $192.8 billion cash on hand, down 7.4% from its fiscal first quarter of 2020, when the company reported a $207.06 billion cash pile. Apple will continue to buy back its stock amid the pandemic, 

The company said. It has authorized an increase of $50 billion in the company’s share repurchase program, in addition to a dividend of $0.82 per share. In Apple’s fiscal 2019, it spent $67.1 billion repurchasing shares and $14.1 billion on dividends. 

"It was a very unique quarter. I've never had anything quite like this. I hope to never have it again, but I'm incredibly proud of the company and what was achieved during that period of time," Apple CEO Tim Cook told CNBC's Josh Lipton.

Apple shares fell slightly in extended trading after the company reported $58.3 billion in revenue and earnings of $2.55 per share.