By David Goldman,
Cash is king, and Big Tech companies have it pouring out their ears.
A combination of cost-cutting tactics and an improving economic climate have driven tech-sector profits way up this year. In the second quarter, technology industry earnings are on track to rise 66% compared to last year, according to Thomson Reuters.
That has led to massive stockpiles of cash at some of the world’s tech giants. The eight biggest companies in the industry are sitting on a collective stash of more than $194 billion.
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Related reading:
What the Wall Street Crisis Means for Big Tech
Fast Company (22 Sept 08)
