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Buy and build an entire city
The median U.S. house price is about $195,050, based on figures from the Northeast, the Midwest, the South and the West coast. Of course, some areas of the country are far higher and far lower than other places, but this—after all—is just a bit of fun.
Take the median U.S. house price and build as many houses with Apple's cash pile of $137.1 billion, and you can buy 7,028 702,896 houses. Because building a house costs far less than, the number of houses will likely be significantly higher, by at least 20 percent by rough calculations. That could bump the figure up to 8,433 843,475 homes.
After many hours researching this, there's no one definition of how large a town or city should be, but around 10,000 people seems to be the rough benchmark. Compared to New York City or San Francisco, the numbers fall far below their many millions, but it's still wouldn't be a bad effort by Apple if it decided to go down this route.
Correction: One reader points out that indeed it's 702,896 houses, rather than a 'meager' 7,028. Indeed, Apple could built an entire 'city', rather than just a 'town.'
Build an Apple-branded space station
And back into space again. NASA budgeted $58.7 billion for the International Space Station from 1985 to 2015, which due to inflation and other factors, increased to $72.4 billion in 2010 dollars—a 23 percent increase over around 25 years.
All in all, however, the International Space Station cost around $150 billion, but that includes the 36 shuttle flights at $1.4 billion each, adding $50.4 billion to the final figure.
Apple doesn't have quite that much, but if Apple were to create its own version of the International Space Station, it probably wouldn't need as many flights to and from the station. It's fair to say that to build it, launch it up in separate parts, and get iAstronauts in there as well, the company could probably just stretch it.