Guess who beat Apple to become richest company in cash
However, Microsoft remains the most valuable company overall.
Alphabet, the parent company behind Google, recently left behind Apple Inc to bag the top spot on the list of most cash-rich companies. Reports from The Financial Times suggest that as of the second quarter of 2019, Alphabet’s liquid reserves account to USD 117 billion, a whole 15 billion more than Apple’s USD 102 billion figure.
However the display of large amounts of cash could work against the company as shareholders might be more attracted to buybacks.
Google and Alphabet have been fined a total of USD 9.05 billion through antitrust fines by EU since 2017. The company also faces inspection from US lawmakers.
However, Microsoft remains the most valuable company overall. Apple has been overtaken in this race by both Microsoft and Amazon. Microsoft is currently the only company to have a market cap of over USD 1 trillion.