Apple’s $74 Billion Cash Overseas Leads US Tech Companies
A new report released by Richard Lane of Moody’s Investors Service shows that Apple leads a list of technology US companies holding overseas cash with roughly $74 billion. That is a huge increase.
In December 2011, oversees cash was $64 billion and in by the end of 2012, it was $35 billion.
Lane cited SEC filings as well as his firm’s estimates. He said that US tech companies contributed roughly $227.5 billion to a total of $457 billion in overseas cash held by American corporations at the end of the first quarter of 2012. If Apple’s $74 billion contribution overseas gets excluded, the rise in cash saw a year-to-year increase of 15% for the March quarte. However, but if you include Apple’s assets, the number jumps to roughly 31%.
The next company behind Apple with a large amount of money overseas was Microsoft. It had $50 billion. The third position in this list was held by Cisco with $42.3 billion.
The others in the top 5 included Oracle coming in at $25.1 billion and Qualcomm coming in at $16.5 billion. The top ten US tech companies now own 83% of all offshore cash for the sector, up from the 74% it was at just five years ago. In this research, only companies holding combined cash and liquid assets above $2 billion were taken into account as part of the report.