Apple and its cash hoard As of August 1, 2017, Apple Computers, Inc. had more than $250 billion in cash in offshore banks (Abramson, 2017). The cash balance was after the company paid out more than $1.1 billion in dividends and repurchased more than $4 billion of its stock from shareholders (Balakrishnan, 2017). What will managers do with so much cash? Why does Apple borrow money? What are managements responsibilities to shareholders, stakeholders and its international business communities and constituencies (charities, volunteer organizations, standard of living, etc.)? Should shareholders demand more dividends?

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