Apple Inc. is sitting on twice as much cash at its disposal compared to the U.S. government.

The U.S. Trust has also found Microsoft has more money than the U.S. According to a Forbes report, the figures may not be right on the mark for economic reasons. In its most recent SEC filing, Apple has earned $158.8 billion in cash. This amount included cash equivalents and securities. Meanwhile, the U.S. government has cash reserves of $48.5 billion.

Forbes said even if the cash reserves of the U.S. government are lower than Apple and Microsoft. But it doesn't mean it couldn't have more. The government has access to unlimited amounts of cash since it can always print more bills or decide to create electronic money and purchase bonds. But for comparison purposes, Apple's billion-dollar earnings in a quarter is an awesome feat.

Wells Fargo "Market Perform" Rating Explained

Wells Fargo defended its "market perform" rating of Apple Inc. stock after downgrading iPhone maker's shares in January. The firm had a "neutral outlook" for Apple's future and described the stock to investors as a long-term opportunity that continues to face challenges as the industry shifts.

According to Apple Insider, Analyst Maynard Um said Apple and other smartphone companies are in the middle of a transition phase. Wells Fargo believed Apple may encounter difficulties in the short term.

According to Um, Apple has already passed two phases of ecosystem creation and market share focus which the firm believed it had occurred between 2010 and 2013. Apple Inc's success has been largely based on the rise of modern smartphones.

Um said the industry is currently in the midst of driving applications and services. At this moment, many companies are extending their ecosystems to include physical devices like wearables and other connected devices. The analyst believed Apple will join the wearable devices trend and connected devices market with the long-rumored iWatch. The company may be able to learn more about their customers and deepen their attachment with Apple's ecosystem of devices.

If Apple can pull off the launch of iWatch as a new product aside from the anticipated iPhone 6, investors may be more inclined to put their money in Apple to take advantage of long-term growth.

In its "market perform" rating, Wells Fargo has set a price target for Apple between $505 and $575. Apple is currently trading its shares around $521 as of April 11.