Apple now holds more cash than US Govt.

WASHINGTON: The figures, released by the US Treasury department this week, show the country currently has a total operating cash balance of $73.7bn (£44.85bn).

This compares with Apple’s $76.4bn of cash reserves, which it has built up during a phenomenal half-decade of strong sales.

America's cash balance last closed below Apple's levels on July 14, at $42.8bn, with balances fluctuating regularly throughout the month. Last year, the US government had a cash deficit of $1.294 trillion.

Apple said last week that sales of its popular iPad tablet device had more than doubled to 9.25m in the three months to the end of June, while iPhone sales reached 20.3m as quarterly profits doubled to $7.31bn.

Meanwhile, US politicians are struggling to agree a deal on the best way to raise the country’s $14.3 trillion debt ceiling.