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APPLE HOLDING MORE CASH THAN USA

Posted in Blog Archive

Posted by abeodbart July 30, 2011 at 2:35 am


Apple now has more cash to spend than the United States government.

Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).

Apple’s most recent financial results put its reserves at $76.4bn.

The US House of Representatives is due to vote on a bill to raise the country’s debt ceiling, allowing it to borrow more money to cover spending commitments.

If it fails to extend the current limit of $14.3 trillion dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.

The United States is currently spending around $200bn more than it collects in revenue every month.

Apple, on the other hand, is making money hand over fist, according to its financial results.

In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn.

Full Story at BBC

COMMENTS
July 30, 2011 at 2:44 am

HA! This is beautiful! But now I’m just reminded that I really want an iPod touch seeing as I’ve destroyed my old nano :(
Not a deep or perceptive reply, its quarter to three in the morning, thus I don’t care.
Well I do, but just a bit.


July 30, 2011 at 2:44 am
Annette M says:

Haha! “I don’t the bank does”


July 30, 2011 at 4:11 am
roz says:

not surprising–apple is more efficient & productive than the govt is!


July 30, 2011 at 9:36 am
Mark says:

Hmmm what about Microsoft?


July 30, 2011 at 9:58 am
EmC_98 says:

This is such an amusing story to me! Apple is a fantastic company, but you wouldn’t expect it to have more money than the USA.

When I saw that little comic strip, it made my day!

Anyway, back to my Derren Brown marathon (yes, it’s my second one).


July 30, 2011 at 12:07 pm
MunKy says:

Holy shmuck! This scares the crap outta me. Privatisation is gonna happen one way or another.

Surely there is something wrong when companies are making more money than the countries they reside in?!?

Was wealth not meant to be good for the people, for the country, FOR OUR ECONOMY?

Obviously not.


July 30, 2011 at 2:50 pm
Art Stagnitta says:

This is what happens when greedy businesses take their products offshore to be manufactured by slaves working in a country that manipulates it’s currency and doesn’t participate in fair trade.


July 30, 2011 at 8:22 pm
Kia001 says:

Welcome to iUSA! Be sure to read your citizen’s license agreement carefully.


August 1, 2011 at 11:02 pm
alan says:

Apple now has more cash to spend than the United States government.
Steve and Bill pay Barack nil
When will they start to Tax Us?


August 12, 2011 at 12:24 pm
Jess xxx says:

Yeah, but does Apple have its own land mass? When Apple becomes a country, THEN I’ll be impressed! (Will be even more impressed if it is shaped like the Apple logo. :D )


August 16, 2011 at 12:36 am
Leela says:

I just laughed out loud for 3 mins straight!


September 14, 2011 at 10:10 am

When companies and their leaders are making billions – the consumer is not getting the best deal – and generally neither are the employees of the company.


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