Apple reported solid earnings this past week, printing so much money it may soon catch up to the federal reserve.
The digital giant's cash and investments during the past quarter jumped to 206 billion. That's a staggering 33% increase from the same period a year ago. 63% of its revenue came from selling millions of its popular $650 phones to consumers who continue to upgrade to the latest version.
According to an interesting statistic from USA Today, Apple would have enough cash to give every American $650 apiece, which is remarkably close to the retail price of an iPhone. And Apple keeps increasing its pile of cash, even while trying to get rid of it with stock buybacks and dividends to investors.
But the iPhone success it eating into iPad sales, as consumers gravitate to the bigger screen iPhones. And despite all the hype around the new iWatch, its sales have had no real impact on company revenue. After all, you can just check the time on your phone.