U.S. tech companies continue to pile up huge amount of cash outside the country, with little inclination to bring it back home under current tax policy.
While Apple shares were crunched Monday amid fears that the credit crisis could strangle U.S consumers, the bigger worry is that competitors are starting to pile on.
Japanese firms pile in late as resellers or with their own me-too versions and kill themselves in a price war while U.S. entrepreneurs move on to new technologies.