I think that would better be described as "market cap", which is certainly a much bigger number than "cash on hand." The latter is basically liquid assets, which I think is a much more important metric when we're talking about outbidding competitors for fab space (among other things).

> "Cash on hand can be defined as cash deposits at financial institutions that can immediately be withdrawn at any time, and investments maturing in one year or less that are highly liquid and therefore regarded as cash equivalents and reported with or near cash line items"

Source: https://www.macrotrends.net/stocks/charts/AAPL/apple/cash-on...