Apple doesn’t rule out major service acquisitions

On Thursday, Apple announced results for the third quarter of its fiscal year 2022, which topped estimates with record numbers. While speaking with investors, Apple CEO Tim Cook reiterated that he does not rule out acquisitions of large companies, but Apple will never buy a company without having a strategic plan.

Apple does not rule out major acquisitions

During the conversation, Cook was asked about the service market, which is growing every year. The question was about Apple’s interest in acquiring “outside products” to further expand its service catalog, which could be an indirect reference to Apple’s eventual acquisition of Netflix.

Of course, Tim Cook didn’t give details about Apple’s strategies, but said that Apple is “constantly monitoring the market” for potential acquisitions, and that Apple isn’t ruling out buying a big company if that makes sense. . However, Cook claims that Apple “never buys just to buy” and “doesn’t buy for revenue.”

The Apple CEO also stressed that, at least for now, Apple remains focused on acquiring smaller companies and individual talent who can contribute to the company.

We always look and ask ourselves how strategic it is. We never buy just to buy or just to generate income. To date, we have attracted fewer people and IP. I wouldn’t rule anything out for the future. We constantly monitor the market.

This isn’t the first time Cook has been asked about Apple’s acquisitions of large companies. Back in April, Apple’s CEO already said that the company always attracts talent and that major acquisitions are possible if that makes sense. According to some market analysts, Apple should buy companies like Peloton and even Netflix.

In the third quarter of 2022, Apple reported $19.60 billion in services revenue, up 12% from last year. Overall, Apple generated $83.0 billion in revenue and $19.4 billion in profit. Earnings per share for the quarter hit $1.20. More information can be found on the Apple website.

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