“Moody’s Investors Service’s Richard Lane today writes in a note to clients that the ‘surging’ pile of cash of U.S. tech companies that is parked overseas reached $227.5 billion out of a total $457 billion at the end of the March quarter, just counting the holdings of the companies that have $2 billion or more in cash and liquid investments combined,” Tiernan Ray reports for Barron’s.
“Among the top hoarders of cash, writes Lane, Apple‘s $74 billion in overseas cash tops the list, up from $64 billion in December and just $35 billion at the end of 2010,” Ray reports. “Lane refers to SEC filings and Moody’s estimates.”
Ray reports, “Apple’s influence on overseas cash growth is substantial: Excluding Apple, overseas cash rose 15% in the March quarter, year over year. Including Apple, it rose by 31%.”
Read more in the full article here.
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