Imagine for a moment that Apple's management was as innovative with its management of cash as it is with it's other assets.

Apple has announced today that it plans to buy back some $10 billion in stock, stock that one can argue is valued on the expensive side.

What if Apple decided to buy an undervalued asset(s) with that $10 billion, an asset for which more and more technology related uses are being regularly discovered for?

What if Apple decided to diversify itself by taking ownership of 6 silver mining entities that many argue are very undervalued?

Apple could pay a 25-30% premium to current market value and buy out 100% of the following silver mining companies:

PAAS

SSRI

MVG

CDE

HL

AUMN

If I was a shareholder of Apple, I'd much rather Apple do this than buy back some of its very expensive stock.

I realize this is highly unlikely, but it is too bad more highly valued companies fail to think outside the box a little.