The BBC reports that Apple now has more money in reserve than the U.S. Government.
According to figures from the Treasury, the U.S. currently has an operating balance of approximately $73.8 billion dollars, while Apple’s most recent financial results list the iPhone manufacturer as having over $76 billion in cash to spend.
The U.S. government is currently struggling to pay back its debts, putting it at risk of losing its AAA credit rating. Apple, on the other hand, has no such worries, and speculation is rife as to what the company is intending doing with all that money that it’s sitting on.
Industry analysts believe the company is gearing up for a series of strategic acquisitions, with Barnes & Noble and Netflix suggested to be early targets — the addition of these services to Apple’s portfolio would certainly help its iBooks and iTunes services. Having this much money on hand will also allow Apple to buy technology from smaller companies that it wishes to incorporate into its products.
A new model iPhone is strongly rumored to arrive this year, but the company is keeping characteristically tight-lipped about the possibility as always. Apple is currently the world’s largest smartphone manufacturer, according to Strategy Analytics, with a 20% market share, 1% ahead of nearest rival Samsung and 4% ahead of previous top dog Nokia.