[mariodiana]

Technically, it is being invested. The money isn't kept in a big pile under a giant iMattress in Cupertino. Whatever holdings Apple keeps the money in is earning some interest, dividends, or whatever. "Cash" here only means something like "readily convertible."

But, "hoarding" here means that Apple is neither directing investment directly, nor returning the money as dividends to its stockholders, right? I'm guessing the reason is because Apple is investigating future business opportunities which may require deep pockets. In other words, it's possible Apple is involved in exploring some future, highly speculative investment in a new industry, so that they can be "the next Apple" in some economic venture other than phones, tablets, and desktops.

Just to take one example: developing, producing, and marketing a self-driving car will cost a bundle. And, who really knows what Apple is up to? It's fair to say they may have many pokers in the first right now.

[Eric_WVGG]

The money is mostly in Braeburn Capital, I believe. https://qz.com/393093/the-mysterious-fund-in-the-desert-that... [edit: better source]

[petra]

I wonder: one big motive of corporate decisions, is choosing businesses that keep or increase their margins, not decrease it(even if it's a good business, with a good ROI) - because of the stock market.

- Does this dilemma exist for decisions made by Braeburn Capital and other Enterprize VC's ?

- And if not, isn't it possible to create a financial structure that will enable businesses run/own more integrated lower-margin businesses ?

[jpalomaki]

From the linked article: "Braeburn is a variety of apple that is simultaneously sweet and tart."

[smcl]

I was always confused that it's not an apple of Scottish origin - "Brae" is scots for "hill", and "burn" is scots for "little river"

[jdminhbg]

It was first cultivated at an orchard in NZ called Braeburn which is almost certainly named after a Scottish person or place. https://en.wikipedia.org/wiki/Braeburn

[dghughes]

That's a big FU by Apple to its US customers taxes pay for many things roads, schools, police, fire.

[ghaff]

Apple does already pay dividends, which is more than a lot of tech companies do. The yield was as much as about 2%, which is respectable if not high. It's down a bit now because of the rise in the stock price. (By comparison, the likes of AT&T and Boeing are more in the 5% range.)

[gok]

Up vote for iMattress :)