The Best Stocks for the Rest of Trump’s Term: General Electric (GE)
Another part of President Trump’s proposes tax overhauls is lowering — at least temporarily — the penalty for repatriating the funds so many U.S. companies are currently sitting on overseas.
Apple Inc. (NASDAQ:AAPL) is generally treated as the poster child and top beneficiary of this idea. A recent look pegged its potential tax liability on the near-$200 billion it held in overseas bank accounts at around $60 billion if-and-when it brings it home under existing tax laws.
Apple is hardly the only outfit itching to redeploy a huge stack of cash trapped in foreign banks, however. General Electric Company (NYSE:GE) is one of the best stocks for this particular play, boasting roughly $100 billion worth of cash that would also be heavily taxed if the company ever wanted do something with it stateside.
Anthony Mirhaydari has some good points in his idea that General Electric is actually a stock to bail on in May, based on current circumstances. No doubt, GE is struggling. But Trump could change that.