Apple is preparing to spend, but not necessarily on AI

Apple last week nixed its long-held “net cash neutral” target, a move analysts see as giving the company more flexibility to make massive infrastructure investments or acquisitions. Naturally, as AI is the only thing that seems to matter in tech these days, commentators rushed to speculate on potential acquisition targets in the AI space. The thing is, this may not be about AI.  Now that Apple has confirmed John Ternus as its next CEO, the market can stop treating the company’s cash shift...