Why Apple Is Tapping The European Debt Market

Apple has a massive cash balance - standing at $155 billion as of the last quarter - and is seeing increasingly strong free cash flows - over $10 billion during FY Q4 - on the back of hit new products such as the iPhone 6. However, the move to issue Euro-denominated debt makes a lot of sense for Apple given the low interest rate environment in Europe and the company's need to fund its shareholder returns without repatriating its overseas cash.