Is Apple Richer than the US Govt.?
According to the latest financial reports, it appears that Apple has actually more cash reserves than the US govt. itself.
Here is what Business Insider said :
the world’s largest tech company has more cash than the world’s largest sovereign government”
At the end of June 2011, Apple had a total of US$ 76.2 Billion, while the US govt still fighting the crunch of last years financial downfall, stay at a figure of US$73.8 billion in reserves. Whats more Apple has no market debt or bank loans, and it does not hand out dividends. Apple’s reserve is now nearly 16 percent higher than three months ago, the amount added last quarter is higher than the amount on hand 4.5 years ago and the cash added is higher than Google’s overall revenues in the quarter”