Found this out while charging the Apple Pencil for the first time. The cap magnetically sticks to the metallic ring at the top. So hopefully that's one less thing to worry about when charging the Pencil. Before someone asks, I was one of the 6 or 7 people in the USA who was able to order an Apple Pencil for pickup when the ordering opened. They didn't have them yesterday, I was called in today to collect it.