[joshuamerrill]

Yes, the $76 billion includes $47.7 billion of long term investments, and possibly in there are the value of the supplier agreements that Apple is so famous for.

On the other hand... potato, po-tah-to?

While I'm acutely aware of the vast difference between $28 billion and $76 billion, can anyone name the largest acquisition Apple has ever completed?

More importantly, can anyone recall the amount?

Apple is one of the most acquisition-averse large companies I've ever seen. What they will do with $28 billion--let alone $76 billion--is beyond me.