Apple announced during its third quarter earnings conference call earlier this month that it has US$76.4 billion in the bank, which turns out to be more than the U.S. government has with its $73.7 billion. Since Apple’s cash flow is on the rise, and the government’s is dwindling down, that gap will likely continue to increase.
The U.S. government’s cash figures came courtesy of the Treasury Department on Thursday.
Apple’s cash reserve is bigger than the U.S. Government’s
While the government’s cash reserve has continued to dip, Apple’s grew $11.1 billion during its third fiscal quarter, or 131 percent year-over-year. The rise in Apple’s cash reserve comes thanks to the company’s ability to spend less money than it brings in — a key factor in savings that seems to be eluding the U.S. government.
Despite jokes claiming Apple is buying the United States, it looks like the government will have to keep moving forward on its own — although “United States of iMerica” does have a nice ring to it.
[Thanks to The Atlantic for the heads up.]