Jul 30 2011

Apple has more cash than the US government

Apple has just released its financials statements for the June quarter.

The company has $76.2 billion dollars in cash

The US treasury updates its financials daily. The government has an operating cash balance of $73.8 billion

You, astute reader, will note that Apple has more cash than the US government.

As Business Insider points out, this is because Apple collects more money than it spends, while the US government does not.

Business Insider points out some other ‘mind melting’ facts from the Apple June Quarter Statement.

• Apples Revenue grows 82% year after year – this is astounding for what is already the worlds biggest tech company.
• Net profit for the quarter was up 125% ($7.3 billion)
• Apple earn more in this quarter than in the whole of 2008
• 20.3 million iPhones and 9.3 million iPads were sold in that quarter. There are now 220,000,000 iOS devices in the world.

Bugger. Should have bought a house at Wategoes and shares in Apple years ago.