Apple Cash Is $2B More Than US Treasury

By on Jul 31, 2011 in Business, Economy, Finance, International, Politics, United States, World Comments
Apple Inc. logo
Apple Inc. Logo
Image Credit: Apple

The cash on hand of Apple Inc., an American multinational corporation, is $2 billion more than the cash on hand of the United States Treasury, according to reports by several international news sites on Friday, July 29, 2011.

Apple‘s cash is reportedly around $76.16 billion, while the US government lags behind with $73.77 billion.

However, reports say that the cash on hand of Apple cannot be compared directly to that of the US Treasury. Apple‘s cash figures is what is deposited in its bank accounts, while the US government’s funds only represents the amount left before it hits the legal debt limit.

The administration of US President Barack Obama is now in a heated debate with US Congress about raising the debt ceiling.

Apple is considered as the second-largest company in the world with a market value of about $362 billion. It is behind Exxon Mobil Corp.‘s $395 billion.

The US government is expected to spend about $3.8 trillion this year and that figure is about 10 times Apple‘s worth.

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