Wired
Apple reported its fiscal 2022 third-quarter results on Thursday, and the numbers far exceeded expectations. In a conference call with investors, Apple CEO Tim Cook once again said that he would not rule out the possibility of acquiring large companies, but Apple would never acquire a company without a strategic plan.
During the call, Cook was asked if Apple was interested in acquiring “outside products” to further expand its lineup of services, a question that could be an indirect reference to whether Apple could eventually acquire streaming giant Netflix. and.
Of course, Tim Cook didn’t reveal any details about Apple’s strategy, but he did say that Apple is “constantly watching the market” for potential acquisitions and opportunities.
And Apple isn’t ruling out acquiring a major company if it makes sense. However, Cook also said that Apple “never buys just for the sake of acquisition” or “buys for revenue.”
Cook also emphasized that, at least for now, Apple remains focused on acquiring smaller companies and individual talent that can add value to the company.
“We’re always asking ourselves how strategic this acquisition makes sense. We never just buy for acquisitions or just for revenue. We’ve done smaller IP and people acquisitions to date. I’m not ruling out anything in the future. We’re always watching the market,” Cook said.
This isn’t the first time Cook has been asked about Apple’s acquisition of major companies. Back in April, Cook said the company had been absorbing talent and wouldn’t rule out making large acquisitions if it made sense. Some market analysts believe that Apple should acquire companies such as Peloton and even Netflix.
In the third quarter of 2022, Apple Kung Fu’s services revenue was $19.6 billion, a year-on-year increase of 12%. Apple reported total revenue of $83 billion and profit of $19.4 billion. Earnings per share for the quarter hit $1.20.
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