Google Cash Pile Hits Record High, Overtakes Apple

Zero Hedge | 7/31/2019 | Staff
blockstyle (Posted by) Level 3
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The corporate world has a new king of cash...

For the first time since 2006, Google's (Alphabet) cash-pile is larger than Apple's as the former hits a record high and the latter is blowing cash like a drunken sailor.

Alphabet - Horde - Apple - Pittance

Alphabet's $107 billion horde tops Apple's $102 billion pittance...

As The FT reports, the switch in leadership follows a concerted effort by the iPhone maker to reduce its liquid reserves, six years after it first came under pressure from activist investor Carl Icahn to pay out more of its cash hoard. Apple’s holdings of cash and marketable securities, net of debt, has fallen to $102bn (the lowest since 2011), down from a peak of $163bn at the end of 2017.

Apple - Share - Repurchase - Panic - Rate

Apple is not alone in its share repurchase panic, but even the heightened rate of buybacks may not cap the growth in Alphabet’s cash mountain. Its free cash flow this year was forecast to top $30bn, rising to almost $40bn next year, said George Salmon, an...
(Excerpt) Read more at: Zero Hedge
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