Apple’s enormous cash pile swelled to $256.8 billion in the fiscal second quarter.
The tech giant also reported earnings that beat Street expectations on Tuesday, but revenues missed. The stock initially fell more than 1 percent in after-hours trading, as more than 2.6 million shares changed hands.
The company’s cash reserves have long fueled speculation of acquisitions that Apple might make.
Apple keeps most of its cash outside the U.S. for tax reasons, but President Donald Trump and the Republican-controlled Congress are expected to change rules on repatriation of cash stored overseas, which could make it easier for Apple to spend some of the money on acquisitions without taking a major tax hit.
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