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Old July 29th, 2011, 08:52 AM   #1
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Apple now has more cash to spend than the United States government.



Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (45.3bn).



Apple's most recent financial results put its reserves at $76.4bn (46.9bn).



The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments. If it fails to extend the current limit of $14.3 trillion (8.7tn) dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.



The United States is currently spending around $200bn (122bn) more than it collects in revenue every month.



Apple, on the other hand, is making money hand over fist, according to its financial results. In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn (4.6bn).

With more than $75bn (35.8bn) either sitting in the bank or in easily accessible assets, there has been enormous speculation about what the company will do with the money.



"Apple keeps its cards close to its chest," said Daniel Ashdown, an analyst at Juniper Research.

Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents.



Bookstore Barnes and Noble and the online movie site Netflix have both been tipped as possible targets, said Mr Ashdown. The company may also have its eye on smaller firms that develop systems Apple might want to add to its devices, such as voice recognition. Apple dipped into some of its reserves recently when it teamed-up with Microsoft to buy a batch of patents from defunct Canadian firm Nortel.

The bidding consortium shelled out $4.5bn (2.8bn) for more than 6,000 patents.



http://www.bbc.co.uk/news/technology-14340470
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Old July 29th, 2011, 10:04 AM   #2
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Maybe Steve Jobs should be head of the IRS?
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Old July 29th, 2011, 10:07 AM   #3
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maybe congress should sell iPads
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Old July 29th, 2011, 10:09 AM   #4
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iPads are made in China!



Maybe Jobs and Gates can bail us out so we don't have to borrow any more from the Chinese?
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Old July 29th, 2011, 06:32 PM   #5
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That's more than Exxon has too. We should slap a windfall profits tax on Steve Jobs and Apple!
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Old July 29th, 2011, 06:51 PM   #6
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Sorry double post see the responses below.
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Old July 29th, 2011, 06:57 PM   #7
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I despise Apple and I hate patents so tax them all you want and fun doing so! hahahaha. I am not a business analyst, but as tech guy Apple truly does like to hold their cards close. We could easily get into debate about Apple stance on proprietary crap, but it's not fun if you don't have an Apple fanboy. While we are on the subject I read a report that proclaimed they were close to closing on eighty percent of the digital music market. If that's the case and they reach eighty percent they would be considered a "monopoly". They tried to do a backroom deal with the RIAA on several occasions to keep the European distribution company Spotify! out of the market. That's what I call an "unsavory" business practices. A lot of this is somewhat related to the article above so I am not surprised in the least beat they hold more cash then the U.S.



Quote:
Originally Posted by gary View Post
iPads are made in China!



Maybe Jobs and Gates can bail us out so we don't have to borrow any more from the Chinese?


Sounds like a Libertarian principle if you ask me. Don't they always adovcate for those kinds of practices anyway?
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Old July 29th, 2011, 07:03 PM   #8
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Quote:
Originally Posted by onthefence View Post
maybe congress should sell iPads




No they are too busy playing with them and leaving security holes in government networks to actually care hahahaha. If you don't believe me look up the 114,000 e-mail accounts that where spear phished last year by attackers and some of accounts they got their hands on including congressmen and woman as well as D.o.D generals!. Google it if you don't believe me.
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Old July 29th, 2011, 07:08 PM   #9
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Quote:
Originally Posted by HotshotGG View Post
Quote:
Originally Posted by onthefence' timestamp='1311962849' post='344496

maybe congress should sell iPads




No they are too busy playing with them and leaving security holes in government networks to actually care hahahaha. If you don't believe me look up the 114,000 e-mail accounts that where spear phished last year by attackers and some of accounts they got their hands on including congressmen and woman as well as D.o.D generals!. Google it if you don't believe me.


You despise Apple and Windows. What's your horse in this race?
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Old July 29th, 2011, 08:18 PM   #10
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Quote:

You despise Apple and Windows. What's your horse in this race?


If I had two choose between the lesser of the two evils probably Windows. Does that answer the question hahahaha?



Example:



I am an open-source software hippy and avid Linux user. I like to think LInux gives us users freedom to tinker with technology personally and use it openly and freely. Microsoft and Apple don't really care about doing that. Microsoft is more open to the idea of open-source software to an "extent". Apple is becoming is the "new" Microsoft of the last decade.
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