What to Do with Apple's Cash

From BusinessWeek

What would you do with $12 billion?

You might have two ideas in mind, neither of which is necessarily exclusive of the other: First, do some good; and second, make sure that money keeps growing.

It's the kind of question that the financial minds over at Apple have to consider, for that is about the amount of cash the company had on its balance sheet the last time it reported earnings on Jan 17.

If the last year is any judge, Apple's cash position - the combination of its cash on hand and short-term investments that can quickly be converted to cash - is growing at a rate of about a billion and change per quarter. It's high time Apple spread some of that cash around, and I think one good way to start would be to launch a venture capital fund.

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