According to a report from Moody’s Investors Service (MCO), Apple (AAPL) is the top U.S. company when it comes to stockpiling cash.
Holding an astounding $158.8 billion, the tech giant’s cash pile is close to 30x the amount the company had in 2004, when it had just $5.46 billion in cash reserves. This means that Apple holds 9.7% of total corporate cash outside the financial industry.
“By itself, Apple now holds more cash than the total for every industry sector except technology and health care/pharmaceuticals,” said Moody’s senior VP Richard Lane, lead author of the report.
Other big tech names, notes the report, are also on Moody’s list when it comes to hoarding cash. Apart from Apple, next in the list of cash rich companies are Microsoft Corp. (MSFT), Google Inc. (GOOG), and Verizon Communications (VZ).
In total these companies are sitting on $309 billion in cash, controlling $83.9 billion, $58.7 billion and $54.1 billion as of Dec. 31, 2013, respectively.
For all U.S. companies outside of the finance industry, the cash pile comes to a record $1.64 trillion at the end of fiscal 2013. Of the $1.64 trillion for all the rated companies, Moody’s estimates that $450 billion of the total cash is held overseas.
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