It's impossible to evaluate the marginal return to Apple on increasing R&D by $1 versus increasing $1 in spending buying back stock in light of a tax windfall. They are both sources a potential value, neither is obviously correct, and the value of each dollar spent is highly non-linear.

Also who do you think the top shareholders of Apple are? Apple making a profit doesn't necessarily hurt the Vanguard ETFs my government-employeed middle class American family members sock retirement saving into...?