Or stock buybacks or dividends or acquiring other companies, which is what the money will most likely be used for.
You are correct. 80% on up of repatriated money will not be invested here and create jobs. It will be used as you mention for stock buy backs and dividends. Apple has 200 billion off shore. I doubt it could invest more than 10 billion here.
But still I am not opposed to Donald Trumps plan to charge a one time 10% tax on repatriated billions. 10% is probably fair and will bring billions back home even if most goes to dividends and buying up companies.