Sunday, July 31, 2011

Congratulations Steve Jobs! He is more powerful (in terms of "Economic Power") than one of the large country in the world. Getting into the details, when you swiftly examine the latest quarterly results released by Apple here which is US$ 75.876billion and of US government's available liquid cash which is US$ 73.768 billion.
The numbers show just how powerful Apple has become since the launch of the iPhone in 2007.


Apple’s lead over the government is more pronounced than it would seem if you treat cash as more valuable than credit. Washington’s “operating balance” refers to the amount of money it can spend before it hits the debt ceiling.
The phrase “richer than a small country” is not uncommonly heard, but this is another thing altogether.
Via TNW