Apple appears to be terrible at deploying capital. Most of it is just sitting around in cash. It's actually hard to imagine a worse allocator of capital.
I'm not going to put down your imagination but it didn't take me long to think of a worse use.
Anything that returns more money than treasury bills at the same maturity date is de facto not "safe."
http://www.engadget.com/2014/05/22/charting-apples-growing-s...