We knew Apple was rolling in it but we didn’t expect this – Apple has more cash than the US government.
In a spectacular conjunction of things going very well for Apple, and not so well for the US gov’t, BusinessInsider discovered that Apple is the richer of the two. Apple’s recent earnings report reveals that it has $76.2 billion, while the U.S. Treasury is pocketing a mere $73.8 billion. The reality isn’t as absurd as an image of Steve Jobs swimming through a deeper money swimming-pool than Obama’s, but it’s nevertheless an amusing truth.
Apple revealed its latest earnings figures just last week, and they were its best results ever. In the last quarter alone it sold 9.25 million iPads and 20.34 million iPhones, with a 36 per cent increase in revenue, year-on-year. It continues to trot-out excellent new products too, such as the brand-new Apple Macbook Air, just reviewed on the site.
The US Government, on the other hand, is close to defaulting on its national debt of $14,000,000,000,000. That’s a lot of iPhone 4s, even if you’re buying them SIM-free. For the sake of balance we should say that Apple and the US Gov’t are, of course, very different entities. One is responsible for the well-being of 300,000,000 people, the other just has to produce gadgets enough to make us happy. How different the two seem may depend on how big an Apple fan you are.