Apple apparently has more cash overseas than any other U.S. company, according to Moody’s Investors Service analyst Richard Lane, at US$74 billion. That’s $10 billion more than the company held overseas in December.
Apple’s overseas cash pile is sitting at $74B
Barron’s said Mr. Lane’s report showed Microsoft coming in behind Apple with $50 billion overseas, and Cisco in third place with $42.3 billion outside the U.S.
Mr. Lane used SEC filings and his own estimates to come up with those numbers and added that U.S. technology companies account for about $227.5 billion of the $457 billion companies have moved outside of the country.
Moving money outside of the U.S. isn’t unique to Apple or tech companies. Corporations often hold cash overseas for investments and as a tax shelter, and considering the number if iPhones and iPads Apple sells, it’s no surprise that it has plenty of money to move.
Apple stock value is currently sitting at $614.83, up 0.90 (0.15%) with a market cap at $547.94 billion.