Last week, Apple’s CEO Tim Cook announced the company would invest $1 billion in a U.S. “advanced manufacturing fund.”
As the CEO of a manufacturing company, even I have no idea what Cook means by an “advanced manufacturing fund,” and I don’t think Apple (AAPL, -0.82%) wants me or anyone else to know, which is why it makes for such good publicity. The company announced last week that its cash reserves hit $256.8 billion in the fiscal second quarter, then doesn’t give any other specifics, and saves those specifics, as Cook says, for a later date. Apple will keep beating the drum of how it’s “investing in America,” but won’t ever provide any specifics as to how the money is used other than to create more manufacturing jobs or how many American jobs it creates. And if it does, it will be harder to trace than an Iranian cash deal.