“An estimated $121 billion in cash on Apple’s balance sheet could be put to much better use, Business Insider‘s Henry Blodget said Thursday on CNBC,” Bruno J. Navarro reports for CNBC. “Instead, the iPhone maker should look at the long-term picture, he said on ‘Fast Money.'”

“‘I think they should invest more of it in the margin, in the business,’ he said. ‘Get lower-priced products out there. Stop going after just the premium piece. Get into the real growth engine of the smartphone market, which right now is Android, it’s low-priced phones in China and India, same thing on the tablets,'” Navarro reports. “Blodget, who earlier praised Amazon.com CEO Jeff Bezos for making long-term investments in the online retailer, said that he thought Apple CEO Tim Cook had the wherewithal to make such a move. ‘It’s going to hit the stock, near-term,’ he said. ‘There’s no question about it, but over the long-term that’s the best way to build.'”

Navarro reports, “‘If you want Apple to be around in 10 to 20 years, that’s what you want them to do,’ he said. ‘Their profit margins are too high right now.'”

Read more, and see the video, in the full article here.

MacDailyNews Take: Blodget continues to demonstrate his fundamental lack of understanding about what Apple Inc. is and what makes them tick.

Here’s a newsflash for Henry and anyone else who hasn’t been paying attention for the past three decades: Apple sells premium products at premium prices to premium customers.

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