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Will Apple jump into the car business?

Without actually confirming the iPhone maker will do so, a top executive walked right up to the line at the Code Conference on Wednesday.

“The car is the ultimate mobile device,” Apple Senior VP Jeff Williams said in response to a question about what else the company will do with its huge cash hoard beyond share buybacks and dividends. “We’re exploring a lot of different markets.”

Williams said that the deciding factor in choosing new businesses is not the opportunity for revenue growth, but rather “which ones are ones [in which] we think we can make a huge amount of difference.”

Apple has been said to be hiring workers with automotive expertise, with the possibility of entering the car market around the end of the decade.

For now, Apple is working with existing automakers on CarPlay, which lets users bring their iPhone experience onto a car’s navigation system.