Uncle Steve has more cash than Uncle Sam!
Well, not really Steve Jobs, but Apple has now more cash than the U.S Treasury. According to Financial Post, Apple currently boasts a huge cash reserve of US$75.876-billion as of June 2011, while the US treasury department revealed on Thursday that it has just US$73.768-billion in reserves.
It surely comes as a shocker for many. Who in their wildest dreams would have guessed the cash reserves of the world’s largest technology company will overtake the reserves of the world’s most powerful democratic country?
We must note here that the numbers are not directly comparable-
Apple is currently valued at US$363.25-billion, making it the second largest company on the planet, after Exxon Mobil. Interesting days ahead!
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