For the first time in a decade, Apple is not the world leader in terms of how much cash it has on hand.
The baton has passed to Google parent company Alphabet, which now has $117 billion net cash, compared to Apple’s $102 billion, the Financial Times reported Thursday.
This does not mean Alphabet has been doing vastly better than Apple; it’s more a matter of different strategies between the companies. Apple, which in 2017 held a record $163 billion, has been reducing its cash mound on purpose, starting with the introduction of a tax reform that year which made it easier for multinational giant corporations to repatriate the cash they had overseas. The company used some of the money on stock buybacks and dividends, effectively reducing its cash position. Read more…
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from WebHits.io Blog http://blog.webhits.io/alphabet-dethrones-apple-as-the-most-cash-rich-company/
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