Yet Apple's cash hoard is almost double that of Microsoft, for example, which has $77 billion.
(Read more: Value investor Bill Miller on Apple and Microsoft stock)
Apple has been active in returning cash to shareholders over the past 18 months. In April, the company pledged to spend $60 billion in buying back its stock by the end of 2015. By June, it had re-purchased $16 billion worth of its stock.
However, investors including billionaire activist investor Carl Icahn believe the company should do more. Icahn revealed on Tuesday that he had dinner with Apple CEO Tim Cook and urged him to increase its stock buyback program.
Icahn said in August that if Apple would issue a larger share buyback, the stock could be worth as much as $700 a share. Apple shares traded at $487.96 on Tuesday.
(Read more: Apple shareholders cross fingers for bigger buyback)
Cash not confined to techs
After the technology sector, the healthcare and pharmaceutical industry is the next most cash-flush sector, according to Moodys. Pfizer, for example, is sitting on a $50 billion cash pile.
Automakers are also among the most cash-rich, with Ford Motor and General Motors holding $27.7 billion and $26 billion, respectively.
— By CNBC's Ansuya Harjani; Follow her on Twitter @Ansuya_H