Thursday, 6 August 2020
Earlier this week, Google parent Alphabet raised $10 billion despite already sitting on $121 billion in cash — a decision no doubt fuelled by the Fed’s souped-up money printer and record low interest rates. But the Mountain View giant is not alone; the rest of US tech is hoarding too. In 2012, the companies currently featured in the tech-heavy NASDAQ 100 (NDX) stock index collectively held $405 billion in cash and other small investments. Now, they’ve amassed more than $927 billion — more than half a trillion dollars saved in eight years. Microsoft and Alphabet are NASDAQ’s kings of cash As one might expect,…
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