Apple and Micron spearheaded a continued increase in foreign exchange hedging among large U.S. corporations during the third quarter, with both firms expanding their FX derivatives notionals by more than 60%, according to regulatory filings.
An FX Markets review of 330 SEC filings from non-financial S&P 500 companies identified Apple as the largest mover in absolute dollar terms.
Apple’s FX derivatives notionals rose 62% quarter over quarter to $204 billion, and the company also posted the largest year-over-year increase among the group.
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