Apple predicted to announce plans for growing cash pile by April, will add $42B over 2013

Speculation abounds as to what Apple will do with its $137 billion cash pile, but one investment officer believes Cupertino will put the rumors to rest by announcing its plans for the massive cash hoard by next month.

Bloomberg reported on Monday that Howard Ward, chief investment officer at Gamco Investors, predicted an announcement from Apple in an interview on Bloomberg Radio's "Surveillance." Ward believes that Apple will announce a reallocation of at least some of that cash in order to "put a floor under their stock at a higher price than it is today."

Ward seemed confident in the future of Apple stock, comparing it to JPMorgan, which saw its price plummet last year after a multibillion-dollar loss.

"The stock was beaten up and it was at $30 a share," he said, "and now it's $50."

Ward also believes that Apple will continue to grow its cash and investment pile over the course of 2013. The Gamco officer predicted $42 billion would be added to Apple's current $137.1 billion cash and equivalents over the course of the year.

Apple is Gamco's fund's largest holding, according to Ward.

What exactly Apple should do with its considerable cash holdings has been the topic of much discussion as the pile gets bigger. Last month saw a small revolt on the part of one investor, who believed Apple should issue preferred stock, though that has since died down. A good portion of the assets sits overseas, prompting calls from assorted governments for the repatriation of Apple's stashed earnings so that it can be taxed.