Cupertino-based technology Apple’s CEO Tim Cook has said that the company has acquired between 20 and 25 companies in the last six months. The number may seem huge, but then we should not forget that it Apple that we are talking about, and it is the first trillion dollar company after all. The company’s current market capitalization is above $900 billion and it definitely can afford to do this.
However, we should also mention that Cook did not reveal the nature of the business of the companies that Apple has acquired. But then, he did say that the Cupertino-based technology company buys a company every two or three weeks. We have to say, we can’t think of any other company who is doing this.
The CEO attended Berkshire’s annual shareholder meeting where he said all of this in an interview with CNBC. He also mentioned that after spending on expansion, Apple will look to buy companies for strategic value. He also added that Apple, with its leftover money, mostly acquires companies looking at their talent and intellectual property.
Speaking on this, Cook said, “We bought probably 20 to 25 companies in the last six months or so. And then, we look at, what do we have leftover? And if we’ve got something leftover, we look at where we can place it. And the top value that we believe we can place it is investing in ourselves and investing in Apple. And so we do that. We’re fortunate in that, when we buy our stock we think that almost 50 percent of US households own Apple stock, either directly or indirectly through indexes and mutual funds and so forth. And so it helps everybody or helps a large number of people.”
Coming to the companies that Apple has acquired in the last six months, one among them is AI Assistant startup Silk Labs. The technology giant acquired the company in November last year. Then in December, Apple purchased a London-based music firm, Platoon. In March this year, Apple acquired Italian startup Stamplay. These are the biggest acquisitions that have been made by the company.