The value of that cash is baked into the stock price. It's tied up for now but investors have some expectation that they will ultimately benefit from the cash.

The value of that cash is baked into the stock price. It's tied up for now but investors have some expectation that they will ultimately benefit from the cash. Right now I believe they are using that money as collateral for debt which is being used to pay dividends. I can't spell out exactly how this will impact debt and equity valuations but to assume that a $14 billion tax hit will have no impact whatsoever is a bit naive.