Apple is sitting on $202.8 billion in cash. So no matter what analysts and the market think of the company’s latest quarterly report (not much, judging by the steep drop in share price), the company is still a juggernaut that can absorb any imaginable shock. At the same time, it’s also weak in a way it wasn’t under Steve Jobs. Apple has grown afraid of its own long shadow.
Chief Executive Tim Cook has an explanation for why the company failed to report the sales of the Apple Watch — its first new product since Jobs died in 2011 — in its first quarter on the market: “That was not a matter of not being transparent, it was a matter of not giving our competition insight that’s a product that we’ve worked really hard on.” 
 By Leonid Bershidsky for Bloomberg