Apple Holding More Cash Than Usa

Feb 2007
34,677
17
Los Angeles
#1
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
 
Feb 2007
34,677
17
Los Angeles
#4
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?
 
Aug 2009
1,287
40
Martinez, California USA
#5
That's more than Exxon has too. We should slap a windfall profits tax on Steve Jobs and Apple!
 
Jan 2006
244
0
Boston, MA
#7
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.



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?
 
Jan 2006
244
0
Boston, MA
#8
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.
 
Oct 2010
66,934
26,997
Colorado
#9
onthefence' timestamp='1311962849' post='344496 said:
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?
 
Jan 2006
244
0
Boston, MA
#10
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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