An iPod in every pot? The Statue of Liberty holding an iPad in her left hand? Steve Jobs’ on Mount Rushmore? Don’t laugh, considering Apple (Stock Quote: AAPL) now has more cash on hand than the U.S. government.
According to the U.S. Treasury, Uncle Sam closed the day of business on July 27 with $73.768 billion in total operating balance (TOB). In effect, TOB means the amount of money the government can spend before it bumps up against the debt ceiling.
Apple, on the other hand, reported in its June earnings statement that it has $76.156 billion in cash and securities. It’s been a good week for Apple, which is now the biggest smartphone vendor in the world, with 18% market share, according to a new report from Strategy Analytics.
5 comments:
Maybe we should be recruiting Steve Jobs for President!
Apple provides products that people want. The Government....?
dan said...
"Apple provides products that people want. The Government....?" forces them on us.
How much government subsidies, loopholes, tax breaks and slave labor did Apple use to become such a powerhouse financially stable corporation that enable them to have more money than our federal government?
And for you who said,
"Apple provides products that people want."
Crap, I don't own anything from Apple because I can't afford their product. I am on a very serious budget. However, I am in desperate need of a computer with less than 1.00 free space. My Dell computer which was given to me 20 years ago as a gift has exactly 626 free space. I have to delete from the prefetch, temp file and software dist folder to create space on my computer everyday to come to Salisbury News. With all the money this company have made, I wonder if Apple will buy me a new computer?
Hmmmmmm! I sure can't afford one.
Cheese, 908, I just bought a 160 gig laptop for $250. Save a buck here and there and YOU CAN DO IT!
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