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Apple has more cash in hand than US government (!)

It caught my immediate attention when I read about it on CNN.

United States Treasury department announced in their statement on July 27, 2011 that the US government has operating cash balance of $73.8 billion. Surprisingly this figure is less than what Mr. Steve Jobs’ company has in hand.

Apple, Inc – a giant tech company announced in their last earnings report that their sales has gone up 82% and profits have gone up 124.7% on year-on-year basis. They also have cash and marketable securities of whopping $76.2 billion which is a lot more than what the government has in hand.

“We’re thrilled to deliver our best quarter ever, with revenue up 82% and profits up 125%,” said Steve Jobs in a quote prepared for the press release. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

The world’s most high value company is surpassing the fiscal strength of the world’s most powerful nation – is no less than an interesting surprise. Apple’s stock value has gone up past the $400 mark.

Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world’s largest smartphone vendor by volume.

There’s been a lot of speculation about what Apple might buy with its piles of cash.

Apple is playing wise-game in handling such huge cash and they’re not willing to make any hurried decision on acquisitions at this point of time.

Though these stats sound more fun and interesting – comparing these two entities cannot be justified on one-on-one basis. US is earning & is dedicated to provide facilities to their own (tax paying) countymen-women while Apple is selling their products worldwide to accumulate such huge cash.

None the less – Apple is becoming wise, popular and wealthy – is undoubtedly true and they now have more money to fight more patent lawsuits 🙂

What say?

Source: CNN