iPhone 5 & iPad 3 to Further Up the Ante But For Now Apple Can Go All In Against the U.S. Government [Thanks to Record Quarter After Quarter Apple Now Has More Cash Than the USA]

Posted on TFTS by Chris Smith on Friday, 29. July 2011 under: Internet Highlights

It’s that time of the month when we focus on the financial results of the main tech providers of our time. One of them, is Apple, and the Cupertino-based corporation has had another record quarter that brought plenty of gold in its coffers. With $7.31 billion in net profit Apple reached an impressive $76.2 billion in cash and marketable securities in the quarter ending in June.

Today we hear that Apple could confidently go all-in against the U.S. government in a game of poker of the titans although the U.S. government would have to borrow a few billion dollars to be able to call Apple’s bet. According to the U.S. Treasury Department, the USA currently has an operating cash balance of $73.7 billion, but we won’t go into the government’s financial issues right now.

Instead we’re looking at Apple’s impressive financial results which have surely been noticed by everyone, including its main competitors. They also happen to be currently unmatched when considering that with just two products, the iPhone and the iPad, Apple stormed the mobile business and turned it around in just four years.

Former giants like Nokia, Sony Ericsson, Palm (now HP) and even Microsoft have had to reshape their whole smartphone strategy, with companies like HTC and Samsung being among the first ones to adapt to this new mobile environment. Motorola and LG are also fighting for smartphone marketshare, with RIM desperately trying to hold whatever ground it can in this fierce business and avoid being overrun by the iOS and Android madness. Apple managed to take 66% of the profit in the mobile industry this quarter which is very impressive for a company certain people believed it didn’t stand a chance to make a name for itself in this particular niche.

Apple’s record quarters are certain to continue in the near future, with products like the iPhone 5 or the iPad 3 ready to bring in even more gold in Apple’s coffers. And while we have no idea where the debt ceiling of the USA is going, it’s certain that Apple’s cash reserves will not stop at around $76 billion. We’re also certain that Apple alone wouldn’t be able to pay the U.S.’ debt either, no matter how many smartphones and tablets it would sell. But here’s a thought, perhaps the U.S. government should design its own mobile platform and gadgets and take it from there…

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