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The next earnings season begins soon. And the new tax law that allows U.S. corporations to repatriate offshore earnings at a lower tax rate promises to boost several tech companies in the SDxCentral sphere.

Today, Apple said in a prepared statement, “Apple, already the largest U.S. taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made.”

It appears the company is bringing back the majority of its $252.3 billion in overseas cash.

Apple said it expects to invest more than $30 billion in capital expenditures in the U.S. over the next five years. It also announced plans to establish an Apple campus in a new, as-yet-unnamed location, which will initially house technical support for customers. And it plans to spend over $10 billion in new data centers across the U.S.

In December, AT&T was the first to announce capital investments stemming from the tax holiday. AT&T said it plans to invest an additional $1 billion in its U.S. networks in 2018 and give about 200,000 of its employees a one-time $1,000 bonus. The additional capital investments are expected to support AT&T’s 5G buildout, among other things.

In March 2017, BMO Market Capital estimated that just eight of the biggest U.S. technology companies represented half a trillion dollars of the total offshore funds. Those eight were Apple, Microsoft, Cisco, Oracle, Qualcomm, HPE, IBM, and Net App.

And in November 2017, Cisco’s Chief Financial Officer Kelly Kramer enthused about the “many, many scenarios of what we would do when repatriation comes.” The company could pay off debt, increase its dividend, increase its share buyback, and increase its M&A activity, she said.

Juniper Networks also has offshore cash equal to 18.4 percent of its market cap, according to TheStreet.

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