U.S. Balance Now Less than Apple Cash

[paparush]

Source: Financial Post

Matt Hartley Jul 28, 2011 – 4:56 PM ET | Last Updated: Jul 28, 2011 5:29 PM ET


Steve Jobs is now more liquid than Uncle Sam.

While it’s highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, it became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.

As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.

Of course, the numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money the Cupterino, California-based company has available on its balance sheet.

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

[onehandle]

1. Apple will be the most valuable company on Earth by the end of the year.

They've been in second place behind ExxonMobil for a long time now.

[msongs]

2. apple has $75 bil and they STILL charge such high prices. gougers to be sure lol nt

[BadgerKid]

3. This isn't oil....there are Apple alternatives.

[liberation]

6. analogies, you're doing it wrong... commodities and corporations are two different things

Apple is a tech company, in the same sense that Exxon is an oil company.

There are indeed alternatives to Exxon (other oil companies), just like there are alternatives to Apple (other tech companies).

[Dreamer Tatum]

4. Yet no one ever calls Apple evil. Odd, that. nt

[Tansy_Gold]

5. I do. I loathe Apple and have for a long time

I also think Bill Gates and Microsoft are evil. I hate Windows, I hate MS Word.



TG, TT

[liberation]

7. Both companies were founded by antisocial control freaks...

ironically.

[paparush]

8. Oh, there is a very strong under current in the tech community who do not

look upon Mr. Jobs with laud and praise.

Control freak.
Locked down.
Walled garden.

The guy does have an excellent sense of design.