| They're selling corporate bonds at extremely low interest rates right now: https://www.reuters.com/article/us-alphabet-bonds/google-own... "Of the $10 billion on offer, the $1 billion five-year tranche was issued at a coupon of 0.45%, the lowest coupon seen on a U.S. corporate bond at that maturity, according to Refinitiv data, which goes back to 1980." I can give similar links for Apple: https://finance.yahoo.com/news/apple-joins-tech-borrowing-bo... The Coronavirus CARES act enables the Federal Reserve to buy Corporate Bonds. This is one of the factors driving down the bond rates: https://www.proskauer.com/alert/corporate-credit-facilities-... "The SMCCF, initially funded with $25 billion of equity from Treasury, will leverage its equity ten times when acquiring corporate bonds from investment grade issuers and ETFs whose primary investment objective is exposure to investment grade corporate bonds. It will leverage its equity seven times when acquiring corporate bonds from issuers rated at below investment grade, and from three to seven times when acquiring other eligible assets, depending on risk." So if you're a large corporation capable of selling bonds you can get a loan for far less than even the extreme low end inflation predictions. The big tech companies have the ability to take advantage of the current climate. |