If the US government being under debt wasn’t baffling enough for you, news of a US based company having more money than the government might just do the trick. When the whole world is under a shock about the recent crisis in US economy, Apple Inc releases a casual report, reporting to have more money to spend than the US government.
On Thursday, the U.S Treasury had announced to the world that it has $73.768 billion in its cash bag. While Apple Inc., having a massive third quarter, casually reported of having $75.876 billion in its cash reserves (and other cash equivalents). Thanks to the Apple fans, the company is richer by 2 billion dollars from the US government.
Apparently, Apple seems to lead the race among other tech giants by a margin, though the comparison is just based on the amount of cash to spend on. Google which seemed to be minting money has just 39.1 billion (eh, courtesy: social networking). Microsoft used to be somewhere close but now its cash nest is around 40.2 billion and the commitment to Skype will cut it down shorter by another 8.5 Billion.
Apple’s success story re-started with the return of Steve Jobs in 1998, Apple launched the Mac and since then there was barely any looking back. The company has witnessed a tremendous rise of fortune with the launch of iPhone in 2007 and then following it up with a new version every year.
Though it is highly unlikely that the government will ask Apple for help but the tech giant has just enough money to bail out the US government. Apple is the second most valuable public company after Exxon.
Apple’s sales are unlikely to go down any soon and it has also the potential of becoming the most valued company. With the release of the new swanky Macbook Air and the Apple minis, the sale is already on the rise. With the release of the new iPhone coming September, the sales can be expected to touch a record high.