Apple Tops the U.S treasury with $76.3b in Cash | Mobile phone latest news Google+ Follow Smartfonefreaks on Twitter

The world's most highly valued tech company now
has more cash on hand than the U.S. Treasury.


U.S. Treasury has an operating cash balance of
$73.8 billion -- less than Apple's cash reserves
Apple just became the world's largest smartphone
vendor by volume

(CNN) -- Maybe the cash-strapped U.S. government
should start selling iPads.
According to the latest statement from the U.S.
Treasury, the government had an operating cash
balance Wednesday of $73.8 billion. That's still a lot
of money, but it's less than what Steve Jobs has
lying around.
Tech juggernaut Apple had a whopping $76.2 billion in
cash and marketable securities at the end of June,
according to its
last earnings report
Unlike the U.S. government, which is scrambling to
avoid defaulting on its debt, Apple takes in more
money than it spends.
This symbolic feat -- the world's most highly valued
tech company surpassing the fiscal strength of the
world's most powerful nation -- is just the latest
pinnacle for Apple, which has been on an
unprecedented roll.

U.S. debt: How did we get here?

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
vendorby volume.
There's been a lot of speculation about what Apple
might buy with its piles of cash -- Facebook and
Sony being two of the more high-profile examples --
but the company doesn't seem to be in any hurry
to make a move.

Via: cnn.com

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