Apple made waves last year when it surpassed Microsoft to become the world’s most valuable technology company. Last week, the iPhone and iPod maker notched another milestone: Its cash hoard exceeded that of the U.S. government.
As of June 25, Apple had $76.2 billion in cash, cash equivalents and marketable securities, a staggering increase of $25.1 billion from nine months earlier, according to its latest financial report. The U.S. Treasury reported Wednesday that its operating cash balance stood at roughly $73.8 billion.
“This symbolic feat — the world’s most highly valued tech company surpassing the fiscal strength of the world’s most powerful nation — is just the latest pinnacle for Apple, which has been on an unprecedented roll,” CNN wrote Friday.
Apple will reportedly roll out the latest version of its vaunted iPhone in September.
