Apple reported having a record $246.1 billion in cash reserves in the fourth quarter of 2016, larger than Sri Lanka's estimated 2016 GDP. If counted as its own public company, Apple's cash hoard by itself would be the 13th-largest firm in the world, CNBC reports.
Most of that money is held outside the U.S. to avoid taxation. But President Trump's proposed repatriation scheme could encourage Apple to bring some of that cash back into the country, where experts suspect it would be used to acquire other companies. Last month, CEO Tim Cook said Apple is "always looking at acquisitions" of companies "of all sizes." Apple has purchased about 15 to 20 companies a year for the last four years, Cook said.
But first things first, he told CNBC: "Repatriation is front and center. That is good for the country and Apple."