Is it possible that a company could be in better financial shape than the American government? Well. . .DUH! According to a report on Apple Insider, the Cupertino-based computer company is sitting on more than $75 billion in cash reserves while the US Treasury is claiming to have a mere $73.768 billion remaining in total operating cash.
Yeah yeah... forgive me for comparing "Apples to Governments", there is a difference in the two numbers. The Treasury number represents how much spending power we have until the government hits the Debt Ceiling while Apple's money is just that, Apple's money. Seventy-five billion dollars that the company has earned and saved. And that money is ready and waiting for the right opportunity in which to invest.
Apple's success is something to be respected and hopefully duplicated. After all, it was less than six years ago that the company had a measly $9 billion in cash sitting around. Thanks to the launch of products like the iPhone and iPad, that number has grown substantially, along with Apple. The company now has a market capitalization of over $363 billion, good enough to make Apple the second-largest company on Earth. Second only to Exxon Mobil.
As an Apple user and supporter, I am happy to see the company grow in strength, but also fear that news like this will only awaken greedy politicians in DC who may start talking about things like the "excess-profits-tax."