Apple Has More Money To Spend Than The US Government

Posted: Jul 29 2011, 1:49pm CDT | by , Updated: Jul 31 2011, 7:29pm CDT, in News | Apple

 
Apple has More Money to spend than the US Government

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Apple is hoarding more cash than the United States has on its operating cash balance.

Apple has $76.4 billion in the bank. According to US Treasury numbers this is about $3 billion more than the operation cash balance of the United States. That's right, Apple could run all the wars the US is currently fighting and all the other stuff the US government is paying for.

This is fun news amidst the never ending debt ceiling negotiations between Obama and the Republicans. Apple will not go to war in Afghanistan with its cash, but it will be able to defend its turf and also aggressively expand if they want to. Apple already uses the cash reserves to buy out supplies of crucial hardware components. This enables them to have a lower cost and keep competitors locked out.

Via the BBC.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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