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Showing posts with label US Government. Show all posts
Showing posts with label US Government. Show all posts

July 29, 2011

Who is Richer : US Government or Apple

Apple is now richer and  more liquid  ( has more money to spend )than the United States government, the Financial Post reports.
As the government struggles to resolve the debt ceiling debate, the operating balance in Washington is at US$73.768 billion and falling.

Meanwhile, Apple has US$75.876 billion – and that number isn’t going anywhere but up as the company continues to break records and make its competitors look bad.
You can check the treasury numbers yourself here and the Apple numbers from the most recent quarterly earnings report here.

Apple’s lead over the government is more pronounced than it would seem if you treat cash as more valuable than credit. Washington’s “operating balance” refers to the amount of money it can spend before it hits the debt ceiling.
Figures for Q2 2011 show that Apple has become the world’s largest smartphone vendor by volume of units sold (20.3 million) and market share (18.5%). Nokia sold 16.7 million units in Q2 and had a 15.2% market share, while Samsung sold 19.2 million units with a 17.5% share.

As the  Post here summarizes The phrase “richer than a small country” is not uncommonly heard, but this is another thing altogether. Congratulations Steve Jobs — you’re now more powerful than one of the largest nations on Earth.