“Steve Jobs is now more liquid than Uncle Sam,” Matt Hartley reports for The Financial Post. “Tt became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.”
“As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion,” Hartley reports. “Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.”
Hartley reports, “Apple’s market capitalization currently stands at US$363.25-billion, making it the second largest company on the planet, after Exxon Mobil.”
Full article here.
[Thanks to MacDailyNews Reader “MacDust” for the heads up.]