Gap Widens Between Tech Richest and the Rest

A handful of cash-rich companies are consolidating power in the technology industry, using their wealth to expand into new businesses and making it harder for small and midsize competitors to break through.

Why the industry is evolving this way is rooted in balance sheets. Over the past two years, Apple Inc. (AAPL), Oracle Corp. (ORCL), Google Inc. (GOOG), Microsoft Corp. (MSFT) and six other large tech companies have generated $68.5 billion in new cash, compared with just $13.5 billion for the other 65 tech companies in the S&P 500 Index combined, according to a Wall Street Journal analysis of data provided by Capital IQ.

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