Apple has more money than the US government, media reports revealed on Saturday.
According to a CNN report, Apple had US$76.2 billion (S$91.7 billion) in cash and marketable securities at the end of June, more than the US' operating cash balance of US$73.8 billion.
The US is currently in a stand-off trying to lift its debt ceiling, with the Senate on Friday rejecting a House-passed Republican bill to avoid a default.
Business leaders have warned that a default would cripple the fragile US economy, which has been struggling with high unemployment ever since the 2008 financial crisis.
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Apple now has more money than the US
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According to a CNN report, Apple had US$76.2 billion (S$91.7 billion) in cash and marketable securities at the end of June, more than the US' operating cash balance of US$73.8 billion.
The US is currently in a stand-off trying to lift its debt ceiling, with the Senate on Friday rejecting a House-passed Republican bill to avoid a default.
Business leaders have warned that a default would cripple the fragile US economy, which has been struggling with high unemployment ever since the 2008 financial crisis.
full article at:
Apple now has more money than the US
What's wrong with this picture