Wednesday, a financial statement has released by the US Treasury that has stated that Apple has currently acquire much more liquid cash as well as marketable securities than the existing US government.
In the middle of the last week the authority of Apple has made an announcement in the Wall Street Journal by stating that they have made $28.57 billion with a net profit of $ 7.31 billion. Which, they have described as their best quarter till beginning. As soon as they have posted that, their stalk prices have increased by $400 earlier this week.
This analysis has also showed that Apple currently has $76.2 billion cash on hand at the end of the last month.
This report has come out in such a time while the Government of US has reported an opening cash balance of only $73.8 billion. Though, the number seems to be high, but in this matter the government of US claims a lot of money from Apple as tax revenue.
This federal number is representing how much money the government has on its hand before going to hit a virtual “debt ceiling”, while Apple’s money is within liquid assets.
Apple is a hard core business company, that’s why they are aware of the fact how to leave less which they have made with the comparison of the US government, because they have not yet quite figured out in this matter yet.
Fortune report has stated that US are now spending more than $10 billion a day, which suggests if this world’s largest tech company will have to loan for its available cash, then the USA will go below through it within eight days.
The main secret behind the Apple’s success is their growing smartphone share, in the global smartphone market which is currently in number one position ahead of Samsung and Nokia.
It is expected that their iPhone sales will boost up while its new version will launch in coming September.