In the following video, Jeremy Phillips says Apple's cash hoard is over-discussed, even by Fool.com writers. Austin Smith agrees, saying that "everybody has come out of the woodwork" now that Apple has fallen from grace and its shares have shed 30% of their value.
Under Steve Jobs, Apple's success was built by not listening to the masses, and Austin doesn't think Apple should have to spend money just for the sake of doing so. He cites Microsoft as an example of a company that gave in and started spending its cash. He then contrasts Apple with Google, which also has a massive cash hoard but isn't facing pressure to spend it. The difference? Google shares are still hitting all-time highs.
Austin ultimately concludes that Apple should hold onto its cash instead of making any ridiculous purchases. He points out that Apple has been amazing at allocating capital for the past five years, which is why it remains the world's second biggest company by market cap.
For more, check out the video.