Apple proves to be the biggest US corporate cash share holder. Tech giant alone holds 10% ($147 billion) of all US corporate cash which is $1.48 trillion.
Apple has increased its US corporate cash share to 10% which was previously found to be 9.5% at the end of last year. WSJ reports according to a new analysis by Moody's that more than 1,000 U.S. nonfinancial companies together hold $1.48 trillion cash.
Don't Miss: The Best Super Bowl 2017 TV Deals
Apple now holds $147 billion in cash as of June 30th, 2013. This accounts to be 10% of all US corporate cash. Hence, Apple is so far the biggest US corporate cash holder. As other big tech names like Microsoft, Google, Cisco and Pfizer together hold 15 percent of all U.S. corporate cash. It means that these 5 tech giants together hold 25 percent of the US cash.
Top 50 companies hold 62% of all US cash. WSJ reports, "Despite dividends and buybacks Apple, has about 9.5% more cash than it did at the end of last year. Billionaire investor Carl Icahn pressed the company’s chief executive Tim Cook for another $150 billion buyback at a dinner last night. Apple has nearly double the cash hoard of its next closest rival, since Microsoft has the second-largest cash stockpile at $77 billion."