Apple is reportedly selling all of its stock holdings in the United States to fund its $6.4 billion purchase of Apple.
Apple has sold more than 2.8 billion shares of its Apple Inc stock since the start of 2017, making the move one of the most significant in the company’s history.
The purchase is expected to close in the second half of 2018.
Apple, which has a market value of $64.5 billion, is also reportedly looking to sell about a dozen billion shares from its remaining $62 billion in cash.
Apple has a valuation of $6 trillion, but has already reported losses for the last several years.
Apple said in January it would invest $500 million to $600 million in the San Francisco Bay Area, according to a letter it sent to investors on January 13.
The purchase would be the first major investment in the Bay Area in more than three decades.
Apple CEO Tim Cook said on January 11 that the San Jose company will continue to be a focus of Apple, but declined to reveal what the move would entail.
Cook said that Apple would continue to invest in Apple products in its stores and on its campus in California.