• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechApple

Why Apple Could Soon Save More Than $4 Billion in Taxes

By
Don Reisinger
Don Reisinger
Down Arrow Button Icon
By
Don Reisinger
Don Reisinger
Down Arrow Button Icon
January 13, 2018, 9:00 AM ET

Along the spectrum of good and bad weeks for Apple, this past one was middling, at best.

The week kicked off with some debate over just how much Apple is doing to safeguard kids who are spending too much time on their iPhones and not enough time communicating with others. It then turned to reports that Apple will be handing over control of its iCloud data center operations in China to a local company there to comply with Chinese law.

Get Data Sheet, Fortune’s technology newsletter

But behind the scenes as CES—touted to be the world’s largest tech trade show—was in full swing with major tech announcements from all of Apple’s competitors, the company still featured prominently in the news cycle. Apple optioned rights on a new TV drama this week and a little tax quirk could net the tech giant a $4 billion cash windfall.

Here’s a look back at Apple’s week and the good and bad that came with it:

This is Fortune’s latest weekly roundup of the biggest Apple news. Here’s last week’s roundup.

  1. Apple responded to shareholders last week that called on the company to do its part in combating kids’ smartphone addictions. In a statement, Apple said that its products, including the iPhone and iPad, all come with a variety of controls to curb a child’s use of its devices. But the company also promised more controls in future software updates.
  2. Apple might not have been at CES, but its products were featured prominently. Appliance-maker Whirlpool announced at the show that more than 20 of its products, including washers, dryers, and ranges, will get Apple Watch support soon. The feature means users will be able to adjust their range temperatures and see the status on a load of laundry all from Apple’s smartwatch.
  3. The iPhone maker confirmed this week that all Chinese iCloud user data will be handed over to a local company starting on Feb. 28. The move is a response by Apple to Chinese regulatory authorities that are clamping down on foreign companies housing Chinese user data overseas. Some critics see China’s move as another way for the government to spy on its users. Apple, however, has said that user data will be encrypted.
  4. Apple has reportedly green-lit a new “epic” drama series set in a futuristic world called See. The series will likely have eight episodes in its first season and will be directed by Francis Lawrence, the well-known director of films The Hunger Games: Catching Fire and Mockingjay Parts 1 & 2. There’s no word yet on when the show might air on Apple’s streaming services.
  5. A quirk in the tax bill passed at the end of 2017 allows companies that don’t have fiscal years starting on January 1 to reduce through the end of their fiscal years the amount of foreign cash they accumulate. The less companies stockpile overseas between now and the end of their fiscal years, the less they’ll have to pay in tax on offshore cash. Stephen Shay, a tax professor at Harvard Law School, estimated that Apple could save more than $4 billion in taxes by taking advantage of the loophole.
  6. Follow last week’s speculation that he was leaving the company, Apple Music chief and music industry veteran Jimmy Iovine said this week that he’s staying on at Apple. In an interview with Variety, Iovine said that he’s “loyal to the guys at Apple.”

One more thing…A MacBook Air that never connected to the Internet and was kept in a safe was home to the Star Wars: The Last Jedi script, the film’s director Rian Johnson said this week. Johnson said his producer was worried he’s leave his MacBook Air at a coffee shop for anyone to steal.

About the Author
By Don Reisinger
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

These startups are racing to make AI safe for the Pentagon’s most closely guarded secrets
AIDefense
These startups are racing to make AI safe for the Pentagon’s most closely guarded secrets
By Erik GermanApril 11, 2026
5 hours ago
karp
Future of Workpalantir
Palantir CEO says AI ‘will destroy’ humanities jobs but there will be ‘more than enough jobs’ for people with vocational training
By Jacqueline MunisApril 11, 2026
6 hours ago
A Starbucks barista stands behind a cash register.
RetailFood and drink
Starbucks’ game plan to roll out AI chatbots at cafés could serve as a ‘litmus test’ for the industry, analyst says
By Sasha RogelbergApril 11, 2026
7 hours ago
The ‘Tuscan Mom’ aesthetic is taking over TikTok as Gen Z glamorize McMansions and reject millennial gray
Travel & LeisureGen Z
The ‘Tuscan Mom’ aesthetic is taking over TikTok as Gen Z glamorize McMansions and reject millennial gray
By Sydney LakeApril 11, 2026
7 hours ago
dalmation
AIHealth
Man’s best friend may soon live a little longer thanks to a new pill promising to extend your pup’s lifespan
By Catherina GioinoApril 11, 2026
8 hours ago
hunt
CommentaryMedia
OpenAI’s TBPN deal shows how talent, media, and influence are collapsing into one
By Jonathan HuntApril 11, 2026
8 hours ago

Most Popular

Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
Success
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
By Fortune EditorsApril 10, 2026
1 day ago
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
Politics
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
By Fortune EditorsApril 10, 2026
19 hours ago
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
Investing
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
By Fortune EditorsApril 9, 2026
2 days ago
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
Innovation
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
By Fortune EditorsApril 10, 2026
1 day ago
The U.S. government is spending $88 billion a month in interest on national debt—equal to spending on defense and education combined
Economy
The U.S. government is spending $88 billion a month in interest on national debt—equal to spending on defense and education combined
By Fortune EditorsApril 9, 2026
2 days ago
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
Real Estate
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
By Fortune EditorsApril 11, 2026
9 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.