NEW YORK—Apple, Google and other big companies around the world are continuing to add to their massive piles of cash, a sign that corporations are increasingly nervous about how the highly contagious COVID-19 Delta variant could damage the global economy.
The world’s largest nonfinancial companies had a record $6.85 trillion in cash on their balance sheets as of the end of the second quarter, reported CNN Business.
“Tech giants in particular are hoarding cash. Apple, Microsoft and Google owner Alphabet have a combined $460 billion in cash on their balance sheets. Amazon has nearly $90 billion. Facebook has more than $64 billion, too,” CNN stated.