Tech Dreams

Apple Has More Cash Than U.S Government

We all love Apple for their beautiful products. They make loads of money by selling these beautiful products with premium price tags attached to them. The loads of money Apple has in their bank accounts now is more than U.S government has in it’s reserves.

According to Financial Post

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.

Apple was about to broke before Steve Jobs regained its control. With innovative products like iPod, iPhone & iPad Steve turned Apple into a second most valuable company in the world with market capital of $363.25 billion.