• Apple Has More Cash Reserves Than The US Government Does Operating Expenses

    According to the latest figures from the U.S. Treasury Department the United States has a total operating cash balance of $73.768 billion compared to Apple's cash horde of $75.876 billion.

    I'm no economist, but that seems a little ridiculous.

    The number $73.768 billion in question refers to the amount of money our government has before reaching the arbitrary debt ceiling both sides of congress have been so vehemently arguing about.

    While the House and Senate bicker over the debt ceiling and hold the future of our country hostage, Apple keeps raking in the cashola. Apple shares closed above $400 for the first time earlier this week propelled by another amazing quarterly report. Only 6 years ago in 2005 Apple's cash horde stood at a measly $9 billion. At the end of 2010 it was $60 billion, and as of June 25, 2011 Apple's stockpile of Benjamins equaled nearly $76 billion.

    Unfortunately for shareholders Apple isn't planning on giving out dividends any time soon, but they also aren't making stupid acquisitions either.

    We don't let the cash burn a hole in the pocket or make stupid acquisitions last year. We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future. - Steve Jobs
    Source: FinancialPost
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