Cupertino, Calif.-based Apple Inc. has a bigger cash pile than the US government.

As President Barack Obama is struggling to hit an agreement on raising the debt ceiling, cash balance in the US Treasury dipped to $US74 billion, while Apple Inc.’s cash pile recently touched $US76 billion.

In case the struggling US government asks Apple for financial assistance, it would repeat history. In 1890s, when the US economy was struggling to recover from the financial crisis, the then President, Mr. Cleveland, had asked New York financier JP Morgan for help. JP Morgan had pledged $US60 million in gold to help the US Treasury avoid bankruptcy.

Professor Simon Hodrick, of business economics at Columbia University, said that the reason behind Apple's keeping such a huge cash stockpile might be linked to worries about the stability of the US Treasury.

Speaking on the topic, Hodrick said, "One of the reasons US companies have amassed so much cash is that it provides them financial flexibility in times of heightened uncertainty.”

At a market value of around $US362 billion, Apple is the second-largest company behind Exxon Mobil, which has a market value of around $US395 billion.