Apple now has $192.8 billion in cash on hand, down from last quarter
That’s down 7.4% from its fiscal first quarter of 2020, when the company reported a $207.06 billion cash pile.
Apple has continuously hosted one of the largest cash piles among U.S. companies, but is facing pressure from the Covid-19 pandemic.
The company’s retail stores around the world, except in China and one in Korea, are closed until further notice. Still, Apple has continued to launch products in its second quarter amid signs of a global economic slowdown.
Apple reported that its iPhone revenue was down 7% year-over-year, though that was partially covered by a 16% rise in services revenue. Total revenue growth for the quarter decreased to 0.5% from…