Is Apple considering a major services acquisition? Tim Cook says he ‘wouldn’t rule anything out’

Apple announced third-quarter fiscal 2022 results on Thursday, which beat estimates with record numbers. On a call with investors, Apple CEO Tim Cook said again that he doesn’t rule out acquiring big companies, but that Apple would never buy a company without having a plan. strategic.

Apple wouldn’t rule out major acquisitions

During the call, Cook was asked about the services market, which is growing every year. The question was about Apple’s interest in acquiring “external products” to expand its catalog of services even further, which may have been an indirect reference to Apple’s acquisition of Netflix.

Of course, Tim Cook didn’t provide details on Apple’s strategies, but he said Apple is “constantly monitoring the market” for potential acquisitions, and Apple isn’t ruling out the possibility of buying a big company if that makes sense. . However, Cook asserts that Apple “never buys just to buy” and does not “buy for income”.

The Apple CEO also pointed out that, at least for now, Apple remains focused on acquiring small businesses and individual talent that can add to the business.

We always watch and wonder how strategic it is. We never buy just to buy or just for income services. To date, we have made small acquisitions of intellectual property and people. 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 acquisition of major companies. Last April, Apple’s CEO had already said that the company is still integrating talent and that major acquisitions are not ruled out if it makes sense. According to some market analysts, Apple should buy companies like Peloton and even Netflix.

For the third quarter of 2022, Apple reported $19.60 billion in services revenue, up 12% year-over-year. Overall, Apple posted revenue of $83.0 billion and profit of $19.4 billion. Earnings per share reached $1.20 for the quarter. More details can be found on Apple’s website.

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