Friday, July 29, 2011

Apple Now Has More Cash Than The U.S. Government

By Bob DeMarco
All American Investor

Here's something to keep in mind as you follow this evening's congressional debate over the debt ceiling.

According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.

Apple's last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June.

In other words, the world's largest tech company has more cash than the world's largest sovereign government.

Source Business Insider

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Original content Bob DeMarco, All American Investor