Apple now has more cash than the federal operating balance, and most among the US non-financial firms
Not only that, but it seems that Steve Jobs's pride and joy company has the most cash out of each and every non-financial US company, i.e., those that actually produce something instead of moving digital money around with clicks of the mouse, and whose cash pile is mostly collateralized, i.e. phony.
In fact, just in the last quarter, Apple added $10 billion to its reserves, more than Google's entire revenue stream for Q2. Not bad for a company that makes consumer electronics and software, so we can't help to wonder what the US economy would look like if it wasn't for the Silicon Valley.
ax amnesty to bring the money sitting in offshore accounts back home, as Apple and others are lobbying for.
The biggest downside is that the jobs that produce those gadgets or IT services have mostly gone overseas, so the fact that Apple has so much disposable cash is of little comfort to many.
A pending question is what is Cupertino planning to do with this money, after it conquered the world of mobile, and is well-positioned for the post-PC era, as Steve Jobs loves to call it. There have been many rumors about an Apple TV set, powered by iOS and iTunes, which will no doubt play well with your iPhone and iPad, if true, so that's another venture for which the cash war chest might be opened.
via DailyTech, AppleInsider & BizJournals