[dublinben]

Wireless carriers are a low-margin, increasingly commoditized business. Apple is only interested in expanding into high-margin businesses like services (iCloud, Apple Music, Apple TV, etc.) where they can offer unique value (e.g. privacy) compared to their competitors. Apple keeps so much cash on hand because they have more money than worthwhile ways to invest it.

[Spooky23]

Uh no, they print money. They just have more costal spend and wouldn’t make Apple balance sheet attractive for wall st.

The commoditization is a myth - it’s like beer, most of the competition are brands that are either reskinned white label services or partners.

[Spooky23]

s/costal/capital/

[strongpigeon]

> Wireless carriers are a low-margin

AT&T's gross margin is 50-60% (for reference, Apple is usually 40-50%).