Apple holding more cash than USA

Feuer Frei! · 07-30-11, 04:03 AM

Apple now has more cash to spend than the United States government.
Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).
Apple's most recent financial results put its reserves at $76.4bn.
The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments.
If it fails to extend the current limit of $14.3 trillion dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.
The United States is currently spending around $200bn more than it collects in revenue every month.

Apple, on the other hand, is making money hand over fist, according to its financial results.
In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn.

With more than $75bn either sitting in the bank or in easily accessible assets, there has been enormous speculation about what the company will do with the money.
"Apple keeps its cards close to its chest," said Daniel Ashdown, an analyst at Juniper Research.
Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents.
Bookstore Barnes and Noble and the online movie site Netflix have both been tipped as possible targets, said Mr Ashdown.
The company may also have its eye on smaller firms that develop systems Apple might want to add to its devices, such as voice recognition.
Apple dipped into some of its reserves recently when it teamed-up with Microsoft to buy a batch of patents from defunct Canadian firm Nortel.

SOURCE

Armistead · 07-30-11, 09:11 AM

Yep,

Apple is also one our nations largest corporations that hides profits overseas, along with Microsoft, Google and others. Most studies say these have about 2 trillion stockpiled in tax havens, thanks to US loopholes.

Again, they want a tax holiday so they can bring this money back to the US. Last time they stated it would create jobs, but not only were no jobs created, they used the profits to buy more stock and invest overseas. In fact, after the holiday, 1000's were laid off, they invested in building more plants....overseas.

It's shameful that US corporations have so many loopholes that they pay little taxes to the US.

Skybird · 07-30-11, 09:39 AM

Quote:

Apple holding more cash than USA

Kunststück!

STEED · 07-30-11, 09:55 AM

Ask Apple to make a big donation.

Jimbuna · 07-30-11, 10:43 AM

Change the tax laws.

Schöneboom · 07-30-11, 10:45 AM

One day, we'll be watching Team Apple on Rollerball -- GO APPLE!!!

Torplexed · 07-30-11, 11:40 AM

Geez. Who's wearing the Big Brother pants now?

Where's the blonde 80s chick with the red shorts and hammer when you need her?

yubba · 07-30-11, 12:06 PM

Gee big brother's broke, so sad I shant shed a tear. I guess now he'll want to play Robin Hood, and steal from the rich and give it too his rich buddies. Instead of that I think big brother ought to eat his peas, and learn how to balance his checkbook just like the rest of us.

Stealhead · 07-30-11, 04:01 PM

And large multinational companies are more trust worthy than a government?
Hilarious.

If anything they are much worse than a government.

07-30-11, 04:03 AM	#1
Feuer Frei! Navy Seal Join Date: Sep 2009 Location: Valhalla Posts: 5,295 Downloads: 141 Uploads: 17	Apple holding more cash than USA Apple now has more cash to spend than the United States government. Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn). Apple's most recent financial results put its reserves at $76.4bn. The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments. If it fails to extend the current limit of $14.3 trillion dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating. The United States is currently spending around $200bn more than it collects in revenue every month. Apple, on the other hand, is making money hand over fist, according to its financial results. In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn. With more than $75bn either sitting in the bank or in easily accessible assets, there has been enormous speculation about what the company will do with the money. "Apple keeps its cards close to its chest," said Daniel Ashdown, an analyst at Juniper Research. Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents. Bookstore Barnes and Noble and the online movie site Netflix have both been tipped as possible targets, said Mr Ashdown. The company may also have its eye on smaller firms that develop systems Apple might want to add to its devices, such as voice recognition. Apple dipped into some of its reserves recently when it teamed-up with Microsoft to buy a batch of patents from defunct Canadian firm Nortel. SOURCE __________________ "History is the lies that the victors agree on"- Napoleon LINK TO MY SH 3 MODS

07-30-11, 09:55 AM	#4
STEED Lucky Jack Join Date: Jan 2006 Location: Down Town UK Posts: 27,695 Downloads: 89 Uploads: 48	Ask Apple to make a big donation. __________________ Dr Who rest in peace 1963-2017. To borrow Davros saying...I NAME YOU CHIBNALL THE DESTROYER OF DR WHO YOU KILLED IT!

07-30-11, 10:43 AM	#5
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,584 Downloads: 63 Uploads: 13	Change the tax laws. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

07-30-11, 10:45 AM	#6
Schöneboom Seasoned Skipper Join Date: Apr 2007 Location: San Francisco, CA Posts: 651 Downloads: 36 Uploads: 0	One day, we'll be watching Team Apple on Rollerball -- GO APPLE!!! __________________ Dietrich Schöneboom, U-431 "Es wird klappen, Herr Kaleun. Ganz sicher."

07-30-11, 09:11 AM	#2
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	Yep, Apple is also one our nations largest corporations that hides profits overseas, along with Microsoft, Google and others. Most studies say these have about 2 trillion stockpiled in tax havens, thanks to US loopholes. Again, they want a tax holiday so they can bring this money back to the US. Last time they stated it would create jobs, but not only were no jobs created, they used the profits to buy more stock and invest overseas. In fact, after the holiday, 1000's were laid off, they invested in building more plants....overseas. It's shameful that US corporations have so many loopholes that they pay little taxes to the US.

07-30-11, 11:40 AM	#7
Torplexed Let's Sink Sumptin' ! Join Date: Dec 2001 Location: Seattle, WA Posts: 5,823 Downloads: 43 Uploads: 0	Geez. Who's wearing the Big Brother pants now? Where's the blonde 80s chick with the red shorts and hammer when you need her?

07-30-11, 12:06 PM	#8
yubba Admiral Join Date: Sep 2009 Location: in a neighborhood near you Posts: 2,478 Downloads: 293 Uploads: 2	Gee big brother's broke, so sad I shant shed a tear. I guess now he'll want to play Robin Hood, and steal from the rich and give it too his rich buddies. Instead of that I think big brother ought to eat his peas, and learn how to balance his checkbook just like the rest of us.

07-30-11, 04:01 PM	#9
Stealhead Navy Seal Join Date: Feb 2009 Location: Kentucky Posts: 5,421 Downloads: 85 Uploads: 0	And large multinational companies are more trust worthy than a government? Hilarious. If anything they are much worse than a government.