Realistically they've run out of blockbuster new products and are just hoping high-end phone and tablet sales will keep growing enough to keep their stock from

Realistically they've run out of blockbuster new products and are just hoping high-end phone and tablet sales will keep growing enough to keep their stock from cratering. Acquiring Disney makes no sense since they are completely different businesses. Stock buybacks and dividends are fine if they can't spend their cash reserves efficiently. If I were them I'd do more to encourage and help high quality software development for their hardware and hope someone develops a killer app that drives more sales.