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CallingAllGeeks

Guess What? Apple is Now Richer than the U.S Government

Guess What? Apple is Now Richer than the U.S Government

Shocking isn’t it? According to a report from Financial Times, it’s being stated that Apple has surpassed the United States government in terms of capital. Apple Inc. is now officially more richer than the US government, having more reserves in the bank, at least $2 billion more.

The US government is the most powerful government in the world and yet Apple has managed to cash in more green. The main reason is the debt crisis that United states is facing at the moment, you know, recession and stuff. According to the report;

Steve Jobs is now more liquid than Uncle Sam. While it’s highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, it became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room. As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

See what I mean? The US Treasury Department only has a operating balance of $73.768 billion, while Apple.Inc has $75.876 billion in earnings. Although, it’s not really a good idea to compare them since they’re two completely different areas. Apple started making all the profits since the launch of the iPhone in 2007 and since they’ve been on the rise. Even the MacBooks, iMacs, iPods and iPads have been selling like hot cakes and making more and more greenery around and inside Apple Inc. It’s still growing and has about 28% share in the U.S smartphone market and is the second largest company in the world.

All I have to say is, I’m proud to be an Apple user. What about you?

Article by Droidsid

Droidsid has written 409 articles.

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