If Apple just buys $137 billion S&P Index...Rule of 72 alone = $300 billion cash
In 10 years at ave 7% market return, the cash will double to $300 billion. Given a $396 billion market cap today, the company is selling at $96 billion x cash on a 10 year forward. If you assume earnings stay FLAT for 10 years, that is 2x earnings!!!! That is EXCLUDING: operational growth and the cash excess from operations whatever they may be. When you have $137 billion, there is no reason for it to be in .05% interest "instruments'.