On the other side of things, Apple has issued about $39 billion of its own bonds over the last couple years. A lot of it is longer term (30 years), but for th

On the other side of things, Apple has issued about $39 billion of its own bonds over the last couple years. A lot of it is longer term (30 years), but for the comparable bonds with 1-3 year maturities, they're only paying about 1.0% or a little under. It's not a huge difference vs the 1.06% + 0.2% quoted in the article, but they are making some money just by the fact that they have great credit and can borrow at a slightly better rate than they can receive on these comparable bonds.