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Apple Eclipses the U.S. Government in Terms of Wealth

 - Aug 1, 2011
References: crunchbase & techcrunch
In the mid-90s, Apple Inc. was on the verge of financial collapse, now it's the American government who's on the chopping block. After less than two decades, Steve Jobs was able to pull his failing company from the precipice of bankruptcy -- can the U.S. legislature do the same thing?

After posting their third quarter earnings, Apple has made it crystal clear that they aren't a company to be trifled with; after all, the company has almost $76 billion in its coffers, while the U.S. government has a paltry $73.7 billion sitting around until it hits the debt ceiling. That isn't to say the computer developer could conceivably bail the country out, but Apple Inc. could buy companies that the government can't afford itself.

Considering Apple's $365 billion market cap, Steve Jobs and co. are expected to leapfrog ahead of Exxon Mobil as the world's most valuable public company. That's right, iPhones are responsible for generating more wealth than oil. If this isn't a sign of things to come, what is?