Apple Computer has more cash on hand than the United States government, according to a report from the BBC.
The Treasury Department has $73.7 billion in its big safe, while Apple is sitting on $76.4 billion.
Despite the recession, Apple’s profits are booming. That’s not particularly surprising, considering the company’s line of wildly successful products including the iPhone, iPad, iPod and iMac.
It’s also not that surprising when you consider that Apple, unlike the federal government, isn’t spending about $200 billion more than it collects in revenue every month.
Apple’s net income in the three months ending on June 25th, according to the same report, was up 125%.
Our government could definitely use that kind of money management.