Tech Business Recap: Apple TOPS Overseas Cash Top 5
It’s believed that tech firms’ overseas cash comprises about half of an estimated $457 billion held in that form by U.S. companies. It should come as no surprise that Apple’s (NASDAQ:AAPL) overseas balance of $74 billion (as of the March quarter) tops that of all tech firms, and Moody’s estimates that the current amount was reached by a 15 percent increase during that quarter alone. The Top Five, other than Apple, are Microsoft (NASDAQ:MSFT) with $50 billion, Cisco (NASDAQ:CSCO) with $42.3 billion, Oracle (NASDAQ:ORCL) $25.1 billion, and Qualcomm (NASDAQ:QCOM) with a relatively paltry $16.5 billion. Attempts to obtain a “tax holiday” on the repatriation of overseas cash have so far not been realized.
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