On number 2, there's no need to "pull" the cash from overseas because the 14% is a deemed tax rate, i.e you have no choice in the matter. Going forward it changes to a territorial system so the US won't be taxing international profits.
Apple will likely still issue debt because they can take on a lot more leverage given their cash flow and interest payments will still be deductible up to 30% of EBITDA or EBIT (depending on whether the House or Senate wins out on that) so it will still lower their cost of capital.
This does give them more flexibility on financing decisions and it will increase GAAP profit because Apple has been conservative and has been booking deferred taxes until now.
Apple will likely still issue debt because they can take on a lot more leverage given their cash flow and interest payments will still be deductible up to 30% of EBITDA or EBIT (depending on whether the House or Senate wins out on that) so it will still lower their cost of capital.
This does give them more flexibility on financing decisions and it will increase GAAP profit because Apple has been conservative and has been booking deferred taxes until now.