Apple Inc. has been snapping up organizations at a fast pace recently. CEO Tim Cook told CNBC in an end of the week interview from Berkshire Hathaway Inc’s. BRK.B, – 2.49% annual meeting that the tech mammoth has purchased somewhere in the range of 20 and 25 organizations in the previous a half year.
“If we have money left over, we look to see what else we [can] do,” Cook told CNBC. “We acquire everything that we need that can fit and has a strategic purpose to it. And so we acquire a company, on average, every two to three weeks.”
By correlation, Apple supposedly gained 18 organizations in 2018.
Apple AAPL, – 1.54% seldom declares or affirms its acquisitions, beside a blanket explanation that it “buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
Its most prominent acquisitions lately incorporate Beats in 2014 — at $3 billion, the biggest buy in Apple’s history — automation application Workflow in 2017 and magazine application Texture in 2018.
Apple can absolutely bear to purchase an organization all over — it has about a $113 billion net-money balance, as per its quarterly income report, released a week ago.
Apple shares are up 32% year to date, contrasted with a 13% increase for the Dow Jones Industrial DJIA, – 0.25% of which it is a component.
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