Dense-but-fascinating look at Apple’s cash reserves (and loans and share buybacks).

One of the most interesting observations is, I think, the fact that Apple has so much cash because it’s so profitable it makes more money than it has things to spend it on; it basically spends as much money as it wants on R&D and still has scads of cash left over. Other companies with similar “problems”, i.e. Amazon, “solve” it by constantly expanding their business into different areas (cloud services, logistics, unstaffed grocery stores, etc.). But Apple… basically does exactly and only what Apple’s always done since it was founded; make personal computing devices.1

(And, well. There’s also this…)

  1. Unless, I dunno. The Apple Car gets announced in between when I put this post on the queue and when it pops off. Although, even then, modern cars—particularly of the electric variety—are arguably just “computers that move”, so… []