As the U.S. government attempts to reach a deal on raising the debt ceiling, the Treasury's operating cash balance dropped to $74 billion this week, less than the $76 billion that the tech company Apple had in cash as of June 25, when it released its most-recent financial results.Apple is taking in more money than it lays out, CNN said.
At present, the U.S. is spending around $200 billion more than it takes in in revenue every month, BBC News reports. Meanwhile, Apple is raking it in. In the three months ended June 25, net income was $7.31 billion, an increase of 125% from a year earlier.
Not only has the world's highest-valued technology company surpassed the fiscal strength of the world's most powerful nation, but Apple is now the second-largest company on the planet, after Exxon Mobil, with a market capitalization of $363.25 billion, according to Financial Post. And earlier this week, shares of the company began trading above $400 a share on the Nasdaq Stock Market for the first time ever.
Yes, Apple is really on a roll.
