Posts Tagged ‘financial report’

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Apple has more cash than Uncle Sam

Apple has more cash than Uncle Sam

As Congress squabbles over the debt crisis, it has been reported that Apple has more cash in reserve than the United States government. Based on Apple’s quarterly financial report, the tech giant that has spawned the iPad, iPod and the iPhone has $76.4 billion in reserve cash. The Treasury Department is clutching to just $73.7 billion. Apple’s quarterly results come at a time when the U.S. is working to raise the country’s debt ceiling, allowing the government to borrow more money to pay its bills. Despite having plenty of cash on hand, Apple continues to keep its cards close to its chest. Industry…

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