Apple has more cash than the U.S. government

Technology Staff Editor
Posted by in Technology


According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around. Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends. This symbolic feat -- the world's most highly valued tech company surpassing the fiscal strength of the world's most powerful nation -- is just the latest pinnacle for Apple, which has been on an unprecedented roll. Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world's largest smartphone vendor by volume. There's been a lot of speculation about what Apple might buy with its piles of cash -- Facebook and Sony being two of the more high-profile examples -- but the company doesn't seem to be in any hurry to make a move. "We don't let the cash burn a hole in the pocket or make stupid acquisitions," CEO Jobs said last fall. "We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future."
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  • william clark
    william clark
    I think Apple should give the federal government some money. ?If it weren't for our Federal Government, Apple would have been taken over by some thugs and then they would not have so much money.
  • WiLLiam Morales
    WiLLiam Morales
    No one really knows how much money theUS Treasury has.Just think...separate what you read..add comon sense.
  • Randy Peak
    Randy Peak
    Have seen whats been going on and I would like to venture a guess that the actual unemployment rate is probably twice what they say it is and I don't even get unemployment but I am looking for a job everyday.

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