Friday, July 29, 2011

Is it true that Apple has more cash on hand than the Federal Government?

On Thursday July 28th it became apparent and widely spoken that the innovators of the iPhone and other i products has more cash on reserve approximately, $75.88 billion than the US federal government operating balance of $73.77 billion. The government’s number is a different take from Apple’s since the operating balance of $73.77 billion represents the gap from reaching the current debt ceiling of $14.29 trillion. Apple has made huge head waves in terms of market capitalization and currently sits at number two behind Exxon Mobil at $363.25 billion. Let’s see if Apple can lend some of its cash to the government and become Uncle Sam’s bank. I highly doubt it.

http://business.financialpost.com/2011/07/28/u-s-balance-now-less-than-apple-cash/