Showing posts with label Government News. Show all posts
Showing posts with label Government News. Show all posts

Thursday, August 4, 2011

Does Apple hold more cash that the US Government

Well from reports being seen across the web Apple does in fact fact more holding cash than the US government. Figures from the US treasury department show that the government has an operating cash balance of $73.7bn. While Apple's recent financial puts it's reserves at $76.4bn. To cover spending commitments the US House of Representatives is due to vote on a bill to raise the country's debt ceiling. Allowing it to borrow more money. If it fails to extend the current limit of $14.3 trillion dollars the federal government could find itself struggling to make payments.

Apple on the other hand has enough money in the bank or cash at hand, making money real fast. Apple is not one to reveal too much and therefore you can only speculate what the company plans to do with so much money. maybe to buy up other smaller companies or maybe invest in securing technology patents. Apple will definitely be investing in patents and maybe acquire smaller companies that have technology and products that will ultimately benefit Apple. To put things into perspective here a private company now has more cash on hand than the US government. What are you thoughts please use our comments section to share.

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