During Apple’s financial quarter 2022 review meetings, company CEO Tim Cook answered the incoming questions. Apple’s other companies purchasing strategy Questions were also asked about According to Cook, Apple does not exactly buy other big companies, but rather new abilities interested in incorporating.
The question specifically emphasized why Apple didn’t buy big companies in health, content or fitness. The person who asked the question also emphasized that Apple has billions of dollars in hand and that it can easily make these purchases.
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Apple prefers smaller companies to buy!
Although Tim Cook said that Apple does not refuse to buy big companies, he stated that it seeks intellectual property and talent in companies in its focus. This means that Apple is focusing on smaller startups.
Cook used the following statements on the question:
We are always looking at companies to buy. We buy a lot of small companies. We will continue to do so for intellectual property and new talent. We may also venture into a larger company if the opportunity presents itself. I won’t go over my list with you at this meeting, but we’re always on the lookout.
Many market analysts say it is appropriate to acquire fitness company Peloton to help develop the Apple Watch and Apple Fitness+. Some analysts also believe that Apple should buy Netflix instead of working on Apple TV+ from scratch.
Apple reported revenue of $97.3 billion, profit of $25 billion and earnings per share of $1.52 this quarter. While the iPhone segment remains the most important segment for Apple, the services category was the fastest growing category with revenue of $19.82 billion compared to last year.
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