Apple CEO Tim Cook said on Thursday on a fiscal third-quarter conference call that he did not rule out acquiring a major company, but that Apple would never acquire a company without a strategic plan.
Apple’s services revenue in the fiscal third quarter was $19.6 billion, up 12% from a year earlier. Analysts asked on the conference call whether Apple was interested in play store optimization acquiring “outside products” to further expand its services lineup. The implication of the question may be whether Apple will eventually acquire streaming video giant Netflix.
Cook did not disclose details of Apple’s strategy, but he said that Apple is always “watching the market” for potential acquisition opportunities. Apple has not ruled out acquiring major companies if necessary. However, Cook also said that Apple “never buys for acquisition’s sake” or “for revenue”. Cook emphasized that, at least for now, Apple remains focused on acquiring smaller companies and individual talent that can bolster the company’s business.
“We’re always looking and asking ourselves how strategic this kind of deal is. We’re never buying for acquisition’s sake, we’re never buying for revenue. We’ve done some smaller IP and buy ios app reviews people so far. Acquisition. I would not rule out any future possibilities. We are always watching the market,” he said.