their $75 billion in cash and negotiable securities compares with eBay's July 19th enterprise value of $37.5 billion, Microsoft's $188 billion, Sony's $28.5 billion and Google's $160 billion. They could buy eBay or Sony for cash.

Enterprise value is market capitalization (value of all the shares) less debt. Apple's was $316 billion on the same date.

Note - Apple is great at making awesome products, and most likely lousy, like everyone else, at taking over lousy companies.