The Cash Tech Companies Are Stockpiling: $700 BillionThey're sitting on $700Bn, but if we let 'em keep even MORE $$$ with corporate tax cuts, they'll suddenly magically start HIRING!
Nicole Volpe Miller | November 29, 2011
Technology companies have been hoarding cash. Todd Coupland, an analyst at CIBC World Markets, estimates that U.S. companies could top $700 billion of cash on hand in 2011, making tech the most cash-rich sector after financial services. Apple alone is sitting on about $82 billion in cash and marketable securities.
Note: this $700Bn is $$$ effectively sequestered - it's NOT in the economy, it's just SITTING there!