Apple now has $162 billion in cash on hand, less than last quarter

Apple now has 2 billion in cash on hand, less than last quarter

Tim Cook, CEO of Inc., during an event at Apple Park campus in Cupertino, California, on Sept. 12, 2023.

Paul Morris | Bloomberg | Getty Images

Apple now has $162.1 billion in cash on hand, according to the company's fiscal fourth-quarter earnings  released Thursday.

The figure is below the company's cash pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had around $166.3 billion in cash during its fiscal second quarter in 2023.

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The company regularly maintains one of the largest cash piles in the U.S.

Analysts expected Apple to post its fourth-consecutive quarter of revenue decline Thursday. The company reported $89.50 billion in revenue and $1.46 in earnings per share for its fiscal fourth quarter. Wall Street anticipated $89.28 billion in sales, marking about a 1% from the same quarter last year.

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The September quarter isn't usually Apple's biggest or slowest, and this year, it only includes about a week of iPhone 15 sales. Apple announced its new iPhone 15 line in early September, and the devices hit shelves later that month.

Apple's fiscal fourth-quarter period does include some back-to-school laptop and tablet spending, which often benefits its Mac and iPad divisions.

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— CNBC's Kif Leswing contributed to this report.

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