This is crazy to think about, yet very very sad. A tech company that we all know and love here at Geek for i, has more money the entire U.S. government. What the heck!?!?
Apple currently has $75.876 billion in cash on-hand after its crazy successful third quarter. I said cash on-hand, did you miss that part?
And the U.S. government has $73.768 billion, yet owes the world a couple trillion. Yikes.
TechCrunch states that Apple has come from being close to default just over 15 years ago and now has more money than the U.S. government. At least partially to blame is the large numbers Apple has enjoyed during the third quarter of 2011, in which it pulled in more than $28 billion in revenue and sold over 29 million iOS devices, including 9.25 million iPads. The rest, the iPhone of course.
And while that statistic about the U.S. government is compelling, it’s not 100-percent accurate. The $73.8 billion is what the government has on-hand before it hits that debt ceiling thing we’ve been hearing about and has to borrow more money; the real gross domestic product of the U.S., the value of what the U.S. produces as a nation, is actually in excess of $14 trillion.
Apple’s stock popped up to $400 a share last week, TechCrunch reported, although it fell back down to around $390 right afterward. What kind of slackers have stock at 390 a share? Pfftt!
There’s only one publicly traded company more valuable than Apple right now, and that’s Exxon, an oil company. And in fact, while Apple’s market cap is around $365 billion, Exxon’s is falling as its stock drops hard, pulling the company’s cap to beneath $400 billion. It might not be too long before Apple surpasses it in overall value.
What do you think?