Apple now has more cash on hand than the US Government
Earlier this month we reported that Apple has a ton of cash on hand. In fact, its latest financial results revealed that the tech company has a whopping $76.2 billion of the cold hard stuff sitting wherever that much money is stored. As we previously wrote, that means that if Apple wanted to, it could give $247 to each man, woman and child in the US. Now as members of the US House and the US Senate debate on whether or not to raise the country's debt ceiling in order to avoid a default, the US government has revealed it now has less cash on hand than Apple.
According to The Atlantic, the US Treasury has announced that as of Thursday it has a cash balance of just $73.768 billion. While the article does admit the two numbers can't really be directly compared, it does show just how much money Apple does have to do, well, pretty much anything it wants. Indeed, even in the face of economic armageddon, Apple's stock continues to go up. Earlier this week Apple's stock reached and exceeded $400 a share. Its current stock price as of today is around $392.
Apple's current market worth is a massive $363.25 billion. That number now makes the creator of the iPhone, the iPad, the iPod line and the Mac series of desktops and notebooks (and yes, even the Apple TV) the second biggest company on the planet. Only the Exxon Mobile oil company is now bigger than Apple.