And it's precisely why I would never invest in Apple, no matter how promising and successful their product strategy is. Their stagnated mountains of cash are a monumental waste of resources doing no one any good.
[1] http://blogs.wsj.com/tech-europe/2012/05/14/nokia-outspent-a...
They could be doing R&D/investing it (+jobs, +spending), donating it (-taxes, +social good), or simply paying it back to shareholders if they can't figure it out (+money in circulation).
Anything is better than nothing.
[1] http://www.ibtimes.com/apple-spent-6-billion-rd-nearly-100-p...
[2] http://www.engadget.com/2014/02/12/a-look-at-apples-randd-ex...