Apple sells $14 billion of bonds to take advantage of low interest rates
What you need to know
- Apple has sold $14 of bonds.
- The company plans to use the funds for "general corporate purposes."
As reported by Bloomberg, Apple has sold $14 billion of bonds. The company is reportedly taking advantage of cheaper borrowing costs in order to return more cash to its shareholders.
The report notes that Apple had only made moves like this once a year until 2020, but the low interest rates of the past year made the practice more appealing to the company.
Robert Schiffman, a senior credit analyst at Bloomberg, says that Apple's move indicates higher shareholder returns.
The person familiar with the matter says that the company plans to use the funds for a variety of "general corporate purposes."
Apple just came off a record quarter, raking in $111.4 billion in the first quarter of 2021.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.