Cash Is King for These 2 Big Tech Companies
Our current economic environment is brimming with uncertainty. Inflation has rocketed to 40-year highs, and now the Federal Reserve is resorting to more aggressive interest rate hikes to combat the issue. In addition, the war between Russia and Ukraine continues to negatively impact companies worldwide, adding more fuel to the fire. With the fear that a recession may be on the horizon, investors have raced to dump technology stocks in favor of safer assets like bonds and low-risk equities.
The Nasdaq Composite index has crumbled 24% year to date, as the broader retreat from tech stocks continues to affect companies of all shapes and sizes. During times of economic uncertainty, it's always a good idea to buy companies that enjoy robust cash positions. Businesses with a lot of cash on their balance sheets award investors a much-needed safety net amid economic downturns.
Let's discuss two big tech companies that are performing well financially and possess a boatload of cash.
Source Fool.com
