As the world breathes a sigh of relief that Barack Obama has swallowed some pride and done a deal with the Republicans over the US budget I read that Apple now has more cash to spend than the United States government. The latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn). Meanwhile Apple's most recent financial results put its reserves at $76.4bn.
UPDATE / ERRATA
per Alex:
UPDATE / ERRATA
per Alex:
'Sorry, but cash and reserves are two very different things. Cash is the liquid assets you hold whereas reserves is the accounting estimate of what would be left to shareholders if a company is wound up.So file under BBC incompetence and Mr NotaSheep not checking BBC 'facts'!
The US government has about 6 times as much cas as Apple. More misinformation from the BBC.'
Sorry, but cash and reserves are two very different things. Cash is the liquid assets you hold whereas reserves is the accounting estimate of what would be left to shareholders if a company is wound up.
ReplyDeleteThe US government has about 6 times as much cas as Apple. More misinformation from the BBC.