but from what I hear, a lot of it is overseas so it's difficult to do much with it unless they pay taxes here in the states to bring it back. It's seems odd that they would have such a large debt offering with so much in the bank, but with money costing what it does right now, dirt cheap, it is much less expensive to do that and pay for the underwriting than bring it back and pay the taxes.

I am sure Apple has several next generation iPhones in the works, but they are large, which generally means they are more burecratic and slower, and after the problem with antennagate and maps, that slows it down even more.