Tim Cook hinted that Apple is gearing up for a buying spree of smaller technology companies
REUTERS/Mike Blake
Apple CEO Tim Cook
Apple is giving strong hints that it sees the current landscape as a buyer's market for technology companies.
"In times when equity values are falling there's great opportunity to" purchase companies, Apple CEO Tim Cook said at the company's annual shareholder's meeting, held in Cupertino, California on Friday.
He's looking for "great technology and great people."
Cook mentioned that in the past 15 months, Apple had purchased 19 companies.
Apple previously said that it had purchased 15 companies in 2015.
During Apple's most recent earnings conference call, Cook hinted he was looking for deals as the market softens.
"Obviously from a cost point of view the downside of some economic stress is that some asset prices get cheaper, commodity prices get cheaper, and that sort of thing. So I think this is exactly the period that you want to invest and do so confidently," Cook said at the time.
Next Story
I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
A 13-year-old girl helped unearth an ancient Roman town. She's finally getting credit for it over 90 years later.
It's been a year since I graduated from college, and I still live at home. My therapist says I have post-graduation depression.
Sell-off in Indian stocks continues for the third session
Samsung Galaxy M55 Review — The quintessential Samsung experience
The ageing of nasal tissues may explain why older people are more affected by COVID-19: research
Amitabh Bachchan set to return with season 16 of 'Kaun Banega Crorepati', deets inside
Top 10 places to visit in Manali in 2024
