“Apple accounted for $215.7 billion, or 12.8%, of total corporate cash in 2015, Moody’s Investors Service reported Friday,” Patrick Seitz reports for Investor’s Business Daily. “That’s up from $178 billion, or 10.7%, in 2014, and $159 billion, or 9.7%, in 2013.”
“The top five U.S. companies stockpiling cash, all tech companies, collectively held $504 billion, or 30% of the total corporate cash balance among non-financial companies. That’s up from $440 billion, or 27%, in 2014 and $404 billion, or 25%, in 2013,” Seitz reports. “The top five are: Apple, Microsoft, Google parent Alphabet, Cisco Systems, and Oracle.”
“Microsoft, the second-most cash-rich company in the U.S., had $102.6 billion, less than half of Apple’s total,” Seitz reports. “Alphabet came in third with $73.1 billion, followed by Cisco ($60.4 billion) and Oracle ($52.3 billion).”
Read more in the full article here.
MacDailyNews Take: Until the U.S. can get an executive branch that can work with the legislative branch and fix the idiotic corporate tax morass, cash will continue to pile up outside the country (currently estimated at $1.2 trillion and counting).