Cash-Rich Tech Companies, Apple Lags?
When you think of cash-rich companies, the first name that may come to mind is Apple.
But relative to its size, is Apple holding more cash than its peers? The answer, perhaps surprisingly, is no.
Apple, the darling stock of retail investors and hedge funds, made waves in the past quarter when its cash number was reported to be at $97.6 billion.
This amount, however, includes cash, short-term and long-term investments, with the latter not always being as liquid as the first two.
On Monday, the CNBC Analytics team published a list of “10 Cash-Rich Companies," which compared cash and short-term investments of individual companies to their assets. Since cash holdings can vary significantly by industry, the slideshow isolated firms with the largest cash holdings within all 10 S&P 500 sectors.
Apple, however, did not make it to the list. » Read More