Once, Apple was a technology company.
That was back in Steve Jobs' days when Apple was developing the technologies that yielded revolutionary products and changed the ways people live and work.
These days, Apple is a product and marketing company, churning out different versions of its old products that generate the cash that feeds Apple’s ATM machine and dispenses it to its stockholders.
The trouble is that recently the ATM machine doesn’t generate cash fast enough, as revenues and earnings have slowed down (see tables). That’s why Apple’s leadership has turned into the debt market to keep the ATM machine going, piling up billions of dollars in debt.
Apple’s Key Financial Metrics As of March 15, 2016
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