Apple Inc. (AAPL) Understates Earnings, Investors Should Value It On FCF Basis: Bernstein
In a note to investors published today, Bernstein analyst Toni Sacconaghi weighed in on why Apple Inc. (NASDAQ:AAPL) has chosen to keep a large offshore cash balance and not repatriate to the US. Mr. Sacconaghi noted activist investor Carl Icahn’s notion that Apple’s real tax rate is roughly 20% below… – Continue reading