Apple is an incredibly successful company. Over 5 years they have sold millions of iPods, iPhones and more recently the iPads. They have sold so many that they accumulated quite a bit of money. In fact, they have so much money they are now richer than the US government.
With the America’s political parties still trying to negotiate raising of the US debt ceiling, in time for Tuesday’s deadline, it has emerged that tech giant Apple currently has a healthy stash of $76.2 billion, in contrast to the US government’s $73.8 billion in cash and securities.
News has come from the US treasurery and clearly shows how much of a financial pickle the US is in and also shows just how well Apple is doing.
The world’s most highly valued tech company has overtaken the world’s most powerful Government, in terms of financial strength. But Apple are still only the second richest company in the US.
Apple has US$ 363.25-billion, as far as market capitalization is concerned, which has upped its position, making it the second largest company on the planet, the first being oil giant Exxon Mobile.
Although Apple and the US government do work to a completely different financial model. Apple obviously spends a lot less than it makes so they save a lot. The US model is purely focused on keeping solvent which means paying the bills and staying afloat.
It’s thought that Apple will use its considerable savings to wade into the Patent trolling war, which is seeing companies buying up other companies so they can bolster their patents portfolios. Apple is also going to be splashing the cash on their brand-new head quarters.
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