Apple holding more cash than USA
 

Apple now has more cash to spend than the United States government.

Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).

Apple's most recent financial results put its reserves at $76.4bn (£46.9bn).

The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments.

If it fails to reach an agreement, the federal government is likely to hit its $14.3 trillion (£8.7tn) dollar limit.

The United States is currently spending around $200bn (£122bn) more than it collects in revenue every month.

Apple, on the other hand, is making money hand over fist, according to its financial results.

In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn (£4.6bn).

Spending spree

With more than $75bn (£35.8bn) sitting in the bank, there has been enormous speculation about what the company will do with the money.

"Apple keeps its cards close to its chest," said Daniel Ashdown, an analyst at Juniper Research.

Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents.

Bookstore Barnes and Noble and the online movie site Netflix have both been tipped as possible targets, said Mr Ashdown.

The company may also have its eye on smaller firms that develop systems Apple might want to add to its devices, such as voice recognition.

Apple dipped into some of its reserves recently when it teamed-up with Microsoft to buy a batch of patents from defunct Canadian firm Nortel.

The bidding consortium shelled out $4.5bn (£2.8bn) for more than 6,000 patents.

http://www.bbc.co.uk/news/technology-14340470

as silly as it may sound , usa should sell one of its states and completely pay off its debts

Haha see you later south Dakota

they are unable to run the country as a business, after the state is sold off, they would be in the same pickle in a year or 2 :winkwink:

apple is full of cash, i wish i have few shares there :D

We'll take Alaska.

yesterday called...

What is apples long term plan with all that cash. They don't give dividends so...

He is building a space ship < this is actually true.

Sell Puerto Rico first.

Yes please! The US is all fucked up and going down the drain, I think we will be better off unless they sell us to a third word country (although PR has a mix of both third world and non third world aspects to it) then I'll have to move my ass to Canada which I hear is nice.

Let's toss North Dakota in there too, make it a package deal.

A CLEAR sign that corporations have to much power in America. Reform is needed

Already doing it:
China Wants To Construct A 50 Square Mile Self-Sustaining City South Of Boise, Idaho

I strongly disagree. The politicians have too much power unchecked.

And yes reform is needed. We need to clean house, throw them all out and start over.
Term limits just like the President would go a long way in getting rid of life long Senators and Congressman.

Tru dat!

gotta love some apple

So apple can buy the entire country then?

intresting facts,

Everybody is missing the point. This just shows that Apple products are way overpriced. Long live Bill Gates!!!

With or without Sarah Palin :winkwink:

They're ballers.

Apple is a motherfucking fuck hole.. they don't believe that we should have the right to see or use what we want after we pay $500-$2000 for their junk (either retail or through signing 2yr agreements)

Also our rapist government rapes and steals ANYTHING it wants

Why not do this. Instead of raping us for a couple of weeks, let them rape apple and take all of their money..

That would be a great solution to come up with a bit of extra cash

You are one ignorant fuck!
Have you even ever used any Apple products?

Stop spending two trillion dollars on fighter plans and bombs. That might help.

Who gives a shit, Apples Suck! besides for video editing, if your too cheap to build your own PC :D

I am from PR and don´t live there been 15 years since.... i don´t think latin america would want that dump hahahahaha

believe it or not a lot of latin american countries are way better than PR and US at the moment.

Apple for government!

we would reform the government to work like apple...

design all policies & procedures in DC. Outsource all the work & construction to china. Then price gouge the taxpayers.

Fuck you, and fuck apple :1orglaugh

Rename to imerica? :1orglaugh

South Dakota? Fuck that!

You can sell Florida off to Canada.... we'll take it! Hell were all down there 6 months out of the year already, this would just get all that nasty paperwork and strip searches out of the way!