According to Barron’s today, Apple tops the list of tech companies keeping large amounts of cash reserves overseas. Barron’s quotes Moody’s Investor Services as estimating Apple’s overseas cash supply at $74 billion, which is higher than the $64 billion of last year.
Apple isn’t the only technology company sending cash and other liquid investments out of the country, of course. Microsoft comes in second place with an estimated $50 billion in cash, while Cisco and Oracle are estimated to have $42.3 and $25.1 billion socked away in cash, respectively.
Barron’s also reports that tech companies with over $2 billion in cash or liquid investments hold a total of $227.5 billion in aggregate. These cash reserves are growing – without counting Apple, overseas cash holdings grew 15 percent. With Apple, the holdings rose 31 percent.
The top ten tech companies are said to hold 83 percent of all cash amont tech companies, an increase over the 74 percent they held five years ago. Apparently, technology is the way to make money these days.
As a side note, Apple shares today are up $7.36, or 1.2%, at $613.24. Which could mean even more giant piles of cash across the ocean, of course.Related