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That number is an expense that’s deducted straight from pre-tax income of .4 billion to yield net income of .7 billion.Hence, its reported “effective tax rate” was 25.6% (.685 billion divided by .4 billion), well below the official 35%, but on the high side for multinationals, many of which are in the teens. You can argue that Apple should voluntarily pay more in taxes than they’re legally obligated to, but no one who holds such views would ever get hired as a finance executive at a large publicly held company.

I think the main problem is that there’s nothing magical about Netflix.

Now, they stop working when the company that sold them loses interest in continuing to support them. More than ever, it matters how much you trust the company from which you buy stuff.

security is particularly noteworthy: it has long been taken as a matter of fact that there is an inescapable trade-off between security and ease-of-use; Touch ID made it far easier to have effective security for the vast majority of situations, and Face ID makes it invisible.

Many multinationals report that they intend to plough all of their foreign profits into operations, and hence, don’t make any accruals for U. If anything, it might spare us the boring quarterly routine of analysts expecting soft i Phone sales and then being shocked when the company beats to the upside.

If Apple passes on Netflix, don’t be surprised if Amazon does not. Usually when someone proposes Apple make a huge acquisition, I hurt my eyes by rolling them so far back in my head.




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