Feeds

All rivers flow into the sea: Apple holds TEN PER CENT of corporate America's dosh

Fruity firm's sitting pretty on a $147bn pile of greenbacks

The essential guide to IT transformation

Apple holds just over one in ten of all corporate America's dollars, according to an analysis by ratings firm Moody's.

In a report first cited by the Wall Street Journal, Moody's said the fruity firm holds a $147bn cash reserve. Microsoft struggled into second place, with its war chest amounting to about $77bn - just under half of Apple's total.

Moody's analysis, which excludes financial firms, found that the tech sector boasted the largest cash reserves of all industries, holding a total of $515bn, with the healthcare and pharmaceuticals sector in distant second with total cash reserves of $146bn.

Excluding financial companies, American corporations held a total of about $1.48tn in cash as of June this year. Total reserves have grown by about 2 per cent from the $1.45tn that US corporations were hoarding at the end of last year, and a massive 81 per cent from the paltry $820bn companies held at the end of 2006.

Naturally, cash is concentrated at the very top of the corporate food chain, with the top 50 of the 1,000 companies that Moody's surveyed controlling 62 per cent of the cash.

Apple are known to have a predilection for storing cash overseas, in a bid to duck the 35 per cent US tax rate.

In total, Moody's reckoned that corporate America holds about 61 per cent of its total dosh overseas, amounting to about $900bn.

“In the absence of tax reform, we expect overseas cash to continue to grow,” Moody’s analysts concluded. ®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?