30 Jul 2011

Apple has more cash on hand than U.S. government

I don’t know if this is more of a statement on how ridiculously rich Apple has become, or the harsh state of the American economy, but if the math adds up, the U.S. government has an operating balance of $73.768 billion, while the maker of iPhone and various other silky-smooth gadgets has $75.876 billion in the bank according to the last quarterly results. Of course, the economies of international corporations and entire nations vary significantly, making a direct comparison a bit unfair, but it does put things into perspective. As far as worldwide market cap goes, Apple is the second-biggest company in the world, after oil behemoth Exxon Mobil.

The fact that tons of people are willing to buy iPhone products before even knowing what they are just goes to show how much of a mindshare Apple has captured (at very least in the U.S.). It’s really pretty boggling, especially if you aren’t a part of the iCult, but you can’t argue with the amount of success the company has enjoyed. I guess the next step now is for Apple to buy the entire state of California from the U.S. government and make a magical utopian society comprised of self-sufficient space donuts.

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