Apple richer than the U.S

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Apple richer than the U.S

Post by Sean on 7/29/2011, 7:22 pm

Another news article make interesting reading.

We all know Apple's been doing well recently. The success of the iPhone and iPad has been well documented — and that's before we start talking about MacBooks, iPods and the money made through iTunes and from apps.
In fact, Apple is now the second biggest company on the planet — with only Exxon Mobile worth more.
But while that might not surprise, a new fact emerged this week: Apple now has more spare cash than the richest country on Earth.
Yup, with the US fast running out of money with its politicians deadlocked over whether to raise more funds or not, Apple has more spare cash than the country it's based in.
The latest trading update form the tech giant shows it has a $75.9 billion cash reserve. By contrast, the United stated of America has $73.8 billion according to the latest figures.
Of course, that doesn't mean Apple could run the States, the US spends $10 billion a day on everything from benefits to paying its soldiers and upkeep of buildings. Apple's cash, which has taken years to build up, would be gone in a little over a week.

Sean

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Re: Apple richer than the U.S

Post by Scruffy and Tater on 7/30/2011, 2:45 am

Apple accumulated that cash by spending wisely - something our congress has yet to learn.

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Re: Apple richer than the U.S

Post by Portagie1968 on 7/30/2011, 4:50 am

My cousin lives on the next street from the man with the plan. Back in the day when Jobs was starting He offered my cousin a job. Turned it down. Who ever new He would come this far.

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