Investors don't mind. There the only big tech company that actually buys back shares, and not to offset stock based compensation. They've always had massive cash reserves.

They also have AR/VR that may come out next year. And there doing the apple car thing as well. They've been diversifying away from hardware and doing more subscriptions and tying customers into their ecosystem.

I always thought Apple should buy Peloton if they could get it for 2 billion. I see a lot of synergy with the bike, apple watch, air pods, apple music, and apple subscription. The bike is basically an ipad attached to a bike anyways.