They have billions of cash because there are many sheeps who buy systematically their products whether they are good or bad...![]()
Let me try a different angle. Apple is sitting on over $117B in cash because Apple has been extremely successful in identifying its target market for the iPod, iPhone and iPad. If Apple did not have these successful products, it would still be mucking around in the weeds trying to sell Macs to a market 95% dominated by PC/Windows products.
I think calling Apple customers "sheeps" is a little insulting. Yes, there are those who feel they must upgrade with every new product cycle. Those type of people exist in every market, not just those served by Apple. How do you think Apple survived all of these years before the iPod? The vast majority of Apple's revenue back then came from selling newer, upgraded Macs to its existing Mac base. That same dynamic exists for Apple's i-devices, just in a much higher quantity. This is a legitimate revenue stream for Apple as well as any other company that updates its products.
A lot of people, myself included, have invested in multiple i-devices. I've had an iPhone since the 3GS and recently picked up a new iPad this past April. I have made an investment in apps for those products. I also have made significant investments in software on the Mac side. Continuing to buy into upgrades of an existing ecosystem makes sense for those who have an investment in the software.