“Apple Inc.’s iPad-fueled cash pile, the largest in corporate America, is now almost double that of No. 2 Microsoft Corp.,” The Associated Press reports.
“The five U.S. companies with the largest cash stockpiles accounted for $276 billion, or 22 percent, of non-financial corporate cash balances last year, according to a new report from Moody’s Investors Service,” AP reports. “Apple led the pack with $97.6 billion in cash, followed by Microsoft Corp. with $51.74 billion and Cisco Systems Inc. with $46.74 billion. Google Inc. came in fourth with $44.63 billion and Pfizer Inc. finished out the top five with $35.25 billion, Moody’s said.”
AP reports, “Unless Apple changes its cash philosophy and starts buying back stock or paying a dividend, the company could account for about $150 billion, or 12 percent, of total corporate cash by itself by the end of this year, up from $97 billion, or 8 percent, at the end of 2011.”
Read more in the full article here.
MacDailyNews Take: By now, in mid-March, Apple has more than double Microsoft’s cash.
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