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Apple Is the New Pimco, and Tim Cook Is the New King of Bonds

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How Tech Giants Became Big Buyers of Debt

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There’s a new whale in the corporate-bond market.

Apple Inc., Oracle Corp. and the other tech giants hoarding half a trillion dollars in cash have joined the ranks of the biggest buyers of the debt, often snapping up as much as half of some bond issues, according to five people with knowledge of the transactions.