Amidst the political debates over the federal
budget and the debt ceiling crisis, the U.S. government revealed that it
now has $73 billion remaining as the “financial headroom” before
hitting an arbitrary debt ceiling. Interestingly, this figure, which
represents all that the government has left to spend is less than the
mountain of cash that Apple’s sitting on as reserve.
Apple has been rapidly building up a gigantic cash reserve over the
years. In 2005 it reported $9 billion in cash on hand, which has since
skyrocketed to $60 billion in 2010. At that time
, their pile of cash was
already more than any other non-financial company in the US. And as of
June 25, 2011, the company is now sitting on nearly $76 billion in case
reserve.
With that kind of money, it’s said that Apple could buy Facebook and
Goldman Sachs and still possibly have some cash left. Or, it could
purchase most of the mobile phone industry including HTC, Nokia, RIM,
and Motorola and still have cash left.
[via
Financial Post.com]
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