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Siri, what do I do with all these bonds?

Upon the release of Apple's March 31 10-Q, news began to spread about its liquid asset hoard of some $257 billion. Questions grew around what the tech giant would do, and could with it all, from realistic acquisition targets (Netflix, Tesla, Disney, etc.) to pure speculation, some of which approached the absurd, such as buy every major American sport team.

That $257 billion liquid asset pile is a mix of liquid assets, mostly fixed-income securities, about 58% of which is invested in corporate debt. The firm's corporate debt holdings dwarf the assets of the largest fixed income funds. The company's total portfolio is more than the 2015 gross domestic product of 149 of the 189 countries, or 79%, as reported by the World Bank. The company edged out another tech giant, Finland, by about $24.5 billion.