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Southwest, Microsoft, Apple could benefit from tax cuts: Barron's

Senate Majority Leader Mitch McConnell (R-KY) gives the thumbs-up.
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Senate Majority Leader Mitch McConnell (R-KY) gives the thumbs-up.

Tax cuts that passed the Senate early on Saturday could bolster the shares of Southwest Airlines, Apple, Microsoft, and Alphabet, according to a report in financial publication Barron's.

Domestic airlines like Southwest should benefit from a steep drop in the top federal corporate tax rate, according to the report.

At the same time, multinational technology companies may benefit from provisions that could lower the tax rates on foreign earnings held in cash.