Friday, July 29, 2011

Apple has now more cash than the USA

Apple now has more liquid cash than the U.S. government. 
Apple's last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June. According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday. 
In other words, the world's largest tech company has more cash than the world's largest sovereign government. That's because Apple collects more money than it spends, while the U.S. government does not.

Read more: http://www.businessinsider.com/apple-has-more-cash-on-hand-than-the-us-government-2011-7#ixzz1TWuM9mp1

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