  Recent measurements of the London penetration depth tensor in the cuprates
find a weak temperature dependence along the c-direction which is seemingly
inconsistent with evidence for d-wave pairing deduced from in-plane
measurements. We demonstrate in this paper that these disparate results are not
in contradiction, but can be explained within a theory based on incoherent
quasiparticle hopping between the CuO2 layers. By relating the calculated
temperature dependence of the penetration depth \lambda_c(T) to the c-axis
resistivity, we show how the measured ratio \lambda_c^2(0) / \lambda_c^2(T) can
provide insight into the behavior of c-axis transport below Tc and the related
issue of ``confinement.''
