Apple has cash to spend - a lot of cash

With $97.6 billion in its coffers, Apple has more cash on hand than its home state of California generated in tax revenue for its general fund in 2011. According to the California Department of Finance, California saw revenues to its general fund reached approximately $93.49 billion during fiscal 2010-11, which is $4 billion less than the value of Apple's cash, short term and long term liquid investments.

The Apple coffers could also cover the state's estimated $9.2 billion budget deficit more than 10 times over. With the 2012 state budget deficits accross the country estimated to be around $112 billion, Apple's cash reserves could nearly wipe out the entire country's state budget woes.

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