Posted by: MASMedia in Other Apple News, iPad Tablet, iPhone News
As of Yesterday afternoon, Apple Inc the world’s largest iTechnology company now has more cash in the bank than Big Sam.
As The U.S. Government works hard to reduce the ever growing debt problems, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.
Whilst Apple now has a cash reserve of US$75.876-billion. The Financial Post reports that although the numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money Apple actually has available on its balance sheet.
Still, the numbers show just how powerful Apple has become since the launch of the iPhone in 2007. Earlier this week, shares of Apple began trading North of US$400 on the Nasdaq Stock Market for the first time in the company’s history.
Looking forward to seeing how these figures grow after the release of the iPhone 5 and iPad 3.