Apple Now Has More Spending Money Than USA

Apple Now Has More Spending Money Than USA

Friday, July 29, 2011 - by Ryan McLaughlin
It's no surprise to anyone that Apple is doing well, but it may be surprising to many that the company is doing better financially than its own home country.

Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7 billion, while Apple's most recent postings show a balance of $76.4 billion.

Apple's good news comes at a critical time for the U.S.: the US House of Representatives is currently languishing over a coming vote on a bill to raise the country's debt ceiling, which will allow it to borrow more money to cover spending commitments. If the current limit of $14.3 trillion is not extended, the federal government could find itself struggling to make payments, and could possibly lose its AAA credit rating.




While the U.S. is currently spending around $200 billion more than it collects in revenue every month, Apple is making piles of money, with a net income of $7.31 billion in the last quarter of fiscal 2011, up 125% from the year before. 

With such a massive reserve, speculation on what the company will do with the money is running rampant. While Apple refuses to say anything, analysts believe that the company may be saving up for strategic acquisitions of other businesses, particularly Barnes and Noble booksellers and Netflix. There are also rumors that the company may use the money to acquire patents from smaller firms to add to its devices (and use to sue competitors with) later.
Via: BBC News Technology | News Archive | Tags: Apple, United States, USA, debt ceiling
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By Inspector on Jul 29, 2011

Um... Apple donate some money please! The U.S need it :D lol. The US needs a US Tax for apple! :P

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By omegadraco on Jul 29, 2011

Can I get a bailout... Stick out tongue

So in theory if businesses and rich people did not have enough "losses" to counteract their income then the budget would potentially be balanced lol

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By Dave_HH on Jul 29, 2011

I don't know what's more impressive or pathetic, the fact that Apple has more liquidity than the US or the fact that the ENTIRE US of A has less liquidity than Apple Computer. We have to turn this thing around folks. Not good.

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By AKwyn on Jul 29, 2011

I'd hate to imagine how the USA would be under Apple rule.

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By 3vi1 on Jul 30, 2011

>> There are also rumors that the company may use the money to acquire patents from smaller firms to add to its devices (and use to sue competitors with) later.

Good thing I keep a spare head around. The old one just exploded in rage... since I don't doubt the veracity of the previous statement at all.

I like that Apple has patents to protect themselves from Microsoft in the OS arena, but I absolutely hate the way they've been abusing them in order to prevent competition in the mobile market.  They've become what they hated.

PATENT REFORM NOW!

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By dollfacebabe on Sep 26, 2012

True true... goes to show you how deep the US is in debt. I wouldn't call for an Apple tax, but it's high time the government raised the taxes on corporations and individuals in the 1%. It's ridiculous how much money is made without much tax being paid while the average Joe gets crushed by taxes. This pic shows perfectly where the US is headed.

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