Apple’s cash pile swelled again this quarter, hitting a record $261.5 billion, compared to $256.8 billion last quarter. That’s up 13% year-over-year.

To put in context: If all of that money could be put to work today, it would be enough to buy Oracle outright, and still have $54 billion leftover. It’s also enough to buy Wal-Mart or AT&T outright, based on current market cap.

Apple stashes most of its cash overseas because of the steep tax penalties associated with repatriating foreign earnings. But CEO Tim Cook has been a staunch advocate of tax reform — including a measure, proposed by President Donald Trump, to have a one-time cut in repatriation taxes.

That could allow Apple to put money to work buying another company or returning earnings to shareholders. But other than high-profile investments in Didi and Beats, it’s rare for Apple to make splashy deals. Instead, the company often opts to fuel research and development.