Dollar Dollar Bills
A decade ago, it took the aggregation of nearly every company in the S&P 500 index to exceed $1 trillion of balance sheet cash. Today, it takes just 17 firms to cross that mark, while all companies in the index held more than $2.2 trillion of combined cash at the end of calendar Q2. Apple, the largest public company in the U.S., holds the largest sum of cash totaling $194 billion, while Alphabet (Google) and Microsoft hold $136 billion and $130 billion, respectively. To put Apple’s mountain of cash in perspective, there are only 41 companies in the S&P 500 index with a market capitalization larger than the tech giant’s hoard.