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Alphabet, the parent company of Google, has overtaken Apple to become the world's largest holding company, a title held by the iPhone maker more than a decade, according to the Financial Times.
Apple's cash balances fell to $ 163 billion from $ 163 billion at the end of 2017. Alafit's cash position reached $ 117 billion compared to the second quarter of this year.
The move came after Apple concentrated its efforts on reducing its cash reserves after six years of pressure from its active investor, Karl Icahn, to reduce its financial liquidity.
The increase in liquidity of Alfabit to boost shareholders can encourage the company to spend more in share buybacks or cash dividends, and can also strengthen the monitoring of regulators concerned about the dominance of Google .
Alfabit is currently under scrutiny in Washington after the European Union has fined 8.2 billion euros in the last two years under antitrust law .
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