Apple invests $1B in Chinese ride-hailing service Didi Chuxing
Apple has huge stores of cash sitting overseas. They can't bring it home without subject to large tax penalties. With that cash stockpile growing, it seems like they're having trouble finding ways to put that money to work overseas. I wonder if they would have still made this investment if they had the ability to bring that money back stateside without hefty tax liabilities.Regardless, a $1B is not a small chunk of change, even for Apple. Clearly, natural synergies could arise when Project Titan matures. But Apple tightly coupling itself with a rising player in the Chinese tech sector is a smart play (not to mention associating itself with other notable Didi investors like Alibaba). We've seen similar moves by Uber, who took a large investment from Baidu.Interesting times ahead.