Apple Should Spend Its Money on Its Future ⇥ online.wsj.com

Farhad Manjoo, for the Wall Street Journal:

Apple now has $147 billion in cash, a number that could rise in Monday’s earnings report. But [Carl] Icahn’s demand that Apple use all that money (or get a loan) to buy back its stock is just about the worst use of its cash I can think of. If Jony Ive designed a new iPhone out of $100 bills—the iPhone 5$—even that would be a better way to spend Apple’s boatloads.