Yes, you’ve read that right! According to the latest financial statement by the US Treasury, the iPad manufacturer, is more financially stable than the US Government, itself. Apple currently has a cash-on-hand balance of about $76.2 billion, as opposed to the US Government’s $73.8 billion in cash and securities. This is an impressive milestone for Apple. The world’s most highly valued tech company has overtaken the world’s most powerful Government, in terms of financial strength.
Apple has more cash than Obama's Government!
Apple has US$ 363.25-billion, as far as market capitalization is concerned, which has upped its position, making it the second largest company on the planet, the first being Exxon Mobile. Some may say the difference is due to Apple and the US Government employing two separate financial models - Apple saves more than it spends; on the other hand, the US Government ends up spending more than it saves. Also, Apple is categorised as a profitable company, whereas the US Government operates more on a solvent basis – it just needs to pay the bills, and stay afloat.
Whatever the case is, a company and not the Government, currently holds number one position in the US, as far as cash securities are concerned, which is definitely quite a feat on Apple's part.
Published Date: Jul 30, 2011 04:42 pm | Updated Date: Jul 30, 2011 04:42 pm