Citigroup listed seven companies as potential takeover targets for Apple Inc (AAPL.O), including Netflix (NFLX.O), Walt Disney (DIS.N) and Tesla Inc (TSLA.O), as a way to put its cash hoard of more than $250 billion to work.

Axar.az reports cititng to Reuters with over 90 percent of its cash sitting overseas, a one-time 10 percent repatriation tax would give Apple $220 billion for acquisitions or buybacks, Citigroup analyst Jim Suva said in a note to clients.

U.S. President Donald Trump's tax blueprint, which was unveiled last month, proposes allowing multinationals to bring in overseas profits at a tax rate of 10 percent versus 35 percent now.

"Since one of the new administration's top priorities is to allow US companies to repatriate overseas cash at a lower tax rate, Apple may have a more acute need to put this cash to use,"

Suva said.

The analyst is rated three out of five stars for his recommendations on Apple, according to Thomson Reuters StarMine.