The cash reserves of IT firms, which have been important providers of emerging technologies, have undergone increasing scrutiny as their market valuations have reached unprecedented levels. Coincidentally, no previous research has investigated the asset structures of IT firms at a time when their managers are facing constant pressure to develop and support ever more sophisticated emerging technologies. First, we propose an investigation into six categories of asset holdings to inspect differential strategies of IT firms. We are interested in exploring the nature of asset holdings among this important sector of the economy. Next, we will empirically test for changes in asset holdings over three economic event periods commonly referred to as The Early 1990s Recession, the Dot Com Era, and the Great Recession. Applying the theories of asset specificity and the resource-based view, we hope to provide insight into whether asset strategies of IT firms change over time.