“U.S. nonfinancial companies held $1.48 trillion in cash as of June 30, according to Moody’s review of the more than 1,000 companies it rates. Cash stockpiles have grown by about 2% from $1.45 trillion at the end of last year, and up 81% from $820 billion at the end of 2006,” Chasan reports. “Corporate cash is still concentrated in just a few hands, with the top 50 holders accounting for 62% of the total. The companies with the five largest cash holdings – Apple, Microsoft Corp., Google Inc. , Cisco Systems Inc. and Pfizer Inc. – held more than one quarter of the cash.”
“Despite dividends and buybacks Apple, has about 9.5% more cash than it did at the end of last year,” Chasan reports. “Apple has nearly double the cash hoard of its next closest rival, since Microsoft has the second-largest cash stockpile at $77 billion.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Dan K." for the heads up.]