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Will US companies put overseas cash to work? Don’t bet on it

“Most of the industry’s overseas cash has been accumulated by five companies: Apple, Microsoft, Cisco Systems, Alphabet and Oracle” reports Once the companies’ earnings overseas were taxed at the one-time low rate, most future overseas profits could be returned home tax-free.Smiley said the company could use money returned from overseas to buy companies, finance research and return cash to shareholders.Jeffrey Loo, an analyst at CFRA Research, predicted that Pfizer, Merck and Amgen would return some of their overseas money.So most have chosen to keep the money overseas — at least until Congress decides to make international taxes more favorable to big corporations.

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