Apple now has more cash to spend than the United States government.
Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).
Apple's most recent financial results put its reserves at $76.4bn.
HuskyPup
4:49 pm on Aug 1, 2011 (gmt 0)
Does this mean that Apple and Microsoft could buy out the US Government anytime they like?
Discuss...:-)
StoutFiles
5:03 pm on Aug 1, 2011 (gmt 0)
Does this mean that Apple and Microsoft could buy out the US Government anytime they like?
Discuss...:-)
Most of the govt's wealth is in property, resources, or things it could use to destroy Apple in five minutes, like missiles.
graeme_p
12:34 pm on Aug 2, 2011 (gmt 0)
No, they cannot buy the US government, because most of it has already been sold.
PS. I am not being anti-american: I would say exactly the same about the British government and many otheres.
brotherhood of LAN
12:36 pm on Aug 2, 2011 (gmt 0)
I remember the last time I was down to my last $73.7bn, let me tell you it wasn't easy.
graeme_p
1:52 am on Aug 8, 2011 (gmt 0)
If the US government runs out of money, it can just print some nice shiny new dollars.
Even Steve Jobs has yet to figure out a way of getting away with that.
lucy24
4:22 am on Aug 8, 2011 (gmt 0)
Anyone can print paper money, so long as it isn't intended to deceive; you just have to persuade others to accept it. Hence the once-popular custom of paying your workers in scrip that could only be used at the company store.
Coinage, on the other hand, is legally restricted to the federal government.
But, uhm, does "operating cash balance" really mean the same thing as "reserves"? They don't sound the same.
graeme_p
8:30 am on Aug 10, 2011 (gmt 0)
Apple still cannot print dollars.
It seems comparable: the Apple number is for cash and "marketable securities". I do not understand government accounts though - although one thing you can rely on is that they are drawn up to very lax rules compared to any one else's accounts (because the government make the rules).
