The following is an excerpt from the Canaccord Genuity Morning Coffee newsletter.
, Stock Forum
) is sitting on 10% of all U.S. corporate cash.
Non-financial companies are collectively holding onto $1.48 trillion, up 81% from $820 billion in 2006, reports the Wall Street Journal, drawing on analysis from Moody’s.
Apple’s pile has grown 9.5% since December 2012, even as the company initiates stock buybacks.
Collectively the tech companies in the Moody’s list of the top 1,000 companies by cash hoard holds $515 billion, or more than a third of all the cash held by non-financial corporations.
Apple shares fell 0.45% to $481.22 on Friday, leaving a market cap of $437.2 billion, based on 908.5 million shares outstanding.
The 52-week range is $674.25 and $385.10.
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