Apple reported more than a quarter of a trillion dollars in cash reserves in its second fiscal quarter. Only about $18 billion of that is in the United States, though, which means that Infinite Loop is keeping about $100 billion in debt to keep domestic aspirations afloat.

You might think that the company has reason to keep its leverage as it is. But Citibank’s Jim Suva thinks it can take on several big acquisitions if President Donald Trump presses for a reduced monetary repatriation tax rate.

The analyst believes that the rate could drop from 35 percent to 10 percent, allowing Apple to keep $220 billion in its hoard which it can use to acquire the following companies:

“Since one of the new administration’s top priorities is to allow US companies to repatriate overseas cash at a lower tax rate, Apple may have a more acute need to put this cash to use,” Suva said.

Investors want to see big risk opportunities from a Goliath like Apple not only to pump up the cathartic short trade blood, but also potentially put a multiplier effect on the billions some of these financial institutions have lodged in Cupertino. The companies listed here could give Apple pathways into smart cars, gaming and linear media (a whole ton of linear media).

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