Tech giants are in no rush to spend money overseas


With the passage of the new US tax bill, the country’s tech giants can now access their holdings of foreign cash more freely. You don’t seem in a hurry.

The five largest US technology companies by market value collectively hold nearly $ 500 billion in overseas cash. In their first phone calls since the tax reform, three – Microsoft Corp., Alphabet Inc., and Amazon.com Inc. – suggested better access to cash, which didn’t change their spending plans.

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