if this is true, Apple officially has too much money.
They do, actually.
As a corporation, it's no good having money if you're not doing anything with it; that's just an inefficient use of resources. Sure, that money isn't just sitting in a bank; it's invested in a bazillion different companies and earning staggering amounts of interest. But still - the way to earn the maximum return on that money (and thus maximum return for investors) is to use it to develop products and businesses (which Apple well know; that's the narrative they push to their investors -
"don't leave your money in the bank/invest in property/bonds/whatever; buy shares in Apple!"). Their money is way beyond what you'd need for any reasonable safety net; they have to start using it to develop cool stuff that is going to bolster their share price way beyond what it's doing now. That's why they're desperately seeking new markets: from self-driving cars, to AR/VR, to health monitoring, to stuff like this.
At the same time, while Apple do still make desktop computers, they've primarily been a portable device maker for the last 20 years+. As they know from the iPhone and Apple Watch, mobile internet access is revolutionary when brought to devices that didn't have it before, enabling whole new categories of businesses and technology. And once it's there, it quickly becomes
the critical feature (this is what underpins Qualcomm's ability to extort device manufacturers). Hell - the MacBook Air is one of Apple's most popular laptops, and it's a device which can't really handle much more than web-browsing. That's fine; that's 80-90% of what people need. Do that really well and customers will be very happy indeed.
All of this is to say - as crazy as this sounds,
I can totally see Apple doing this. It would elevate basically every device they make; from the iPhone/iPad/Mac, to the Apple Watch, to AR glasses, to whatever comes after that; to a level that is very difficult to compete with. And they would own every piece of the system, which they would absolutely
love.
SpaceX's reusable rockets and the increased competition in the space-launch market have dramatically dropped the price of launching satellites in to orbit. SpaceX's own Starlink satellite internet is estimated to cost about $10 billion for design, research, building and deployment. Even if it's more - let's say $15 or $20 billion - that's... actually pretty reasonable for your own private, global communications infrastructure. And well within what Apple can afford (they make about $45 billion in
profit, every year).
On the financial side: if it costs $20 billion to set this up (remember, that's double what SpaceX estimate, so I'm being conservative), and given that SpaceX estimate each of
their satellites to have a useful lifetime of 5-7 years (let's say 5, again being conservative), this would need to generate an additional 9% in annual sales to pay for itself. And, of course, if Apple can get it done for cheaper than that, or stretch the satellite's lifetimes (at 7 years, it only needs to generate 6% additional sales), it'll be even more profitable. If this enables them to develop some new kind of device or they sell access to the service directly, they can make that 6-9% in additional sales
easily.
TLDR: I don't think this is very far-fetched.