Tech giants’ next acquisition could be themselves

📆 2021/07/28 03:01:00
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Alphabet, Amazon, Apple, Facebook and Microsoft hold around $600 billion of cash that investors will be keen to see put to work. Doing deals is a tough sell politically, so buying back more shares could be the logical answer, writes GinaChon.

Alphabet on July 27 reported record second-quarter revenue of $61.9 billion, a 62% increase from a year ago. Analysts expected revenue of around $56 billion, according to Refinitiv.

Also that day, Apple said that it had fiscal third-quarter sales of $81.4 billion for the three months that ended on June 26, the highest ever for the equivalent period. Analysts estimated revenue of $73.3 billion. On the same day, Microsoft reported revenue of $46.2 billion for its fourth quarter ending June 30. Analysts expected revenue of $44.2 billion.Employees stack Google products at the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021.

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