If Apple Inc. were a bond fund, it would dwarf the competition.
The iPhone-maker has $148 billion of its record $257 billion cash pile invested in corporate debt alone, according to a company filing from Wednesday. That's enough to buy all the assets in the world's largest fixed-income mutual fund, the Vanguard Total Bond Market Index Fund, which has about $145 billion of assets including company, government and mortgage bonds.
Like many technology companies, Apple has resisted transferring the money it earns abroad back to the U.S. to avoid triggering corporate income taxes on the earnings. Instead, the company invests in corporate bonds and other assets like money market funds and U.S. Treasuries.
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