"'Apple is frugal by nature,' said Credit Suisse Group AG analyst Shannon Cross. 'It comes down to the management’s stewardship of shareholder dollars and a tight focus on what growth opportunities to invest in.'"
Philip Elmer-DeWitt has been covering Apple since 1983 — mostly for Time Magazine (28 years), later for Fortune (9 years), where he wrote a daily blog called Apple 2.0. [Read more.]