Apple's weird, one-sided relationship with Australia

Lost in the collective freak-out over Apple's quarterly results this morning is the fact that the tech giant's cash stash is now above $US200 billion ($270 billion). And some of that is thought to be invested in Australian assets. How much? We don't know for sure.

Wall Street wasn't particularly thrilled with Apple's quarterly results on Wednesday morning. Shares dived by nearly 9 per cent - losing around $US62 billion dollars from its market value in a matter of minutes - after sales of iPhones underwhelmed and the impact of the much-heralded new Apple Watch failed to move the needle. Apple is still growing (revenue was up 45 per cent, year on year) at rates most companies would die for, but investors are incredibly fickle beasts when it comes to results from the world's biggest company.