IERI (Yesterday) I told you that today Tim Cook is going to speak at the Goldman Sachs Technology and Internet Conference and the CEO of Apple now discusses the Apple company and how it has evolved in recent years. speech about acquisitions, the CEO of Apple claims that in the last 3 years his company has acquired a new company approximately every 2 months and has even considered the acquisition of large, important companies. Cook claims that the acquisitions are made either based on the technologies owned by the company, the intellectual property, or the people who work for it, everything being done to develop new products.
Look at the last three years, we've averaged about an acquisition every other month. The kind of companies that we've pushed have been companies where ether have really smart people and or IP. Generally speaking, in many cases, we've taken something that they were working on and moved the skills to work on something else. We bought a company called PA Semi a couple of years ago. We were in the process of creating the engines in [iOS devices]. These were an incredible group of guys. We've done many many others that are similar in nature to that. We will do more of those. We really like to control the primary technology. In terms of large acquisitions... we have looked at large companies... in each case, it didn't pass our test for various reasons. We will look again, I'm sure we will. I think we have the management talent and depth to do it. we don't feel pressure to acquire revenue, we want to make great products. Cash is not burring a hold in our pocket.
Having almost 140 billion dollars in cash reserves, Apple has been criticized for not acquiring more companies, but Cupertino is constantly talking about this and secretly it seems that quite a few acquisitions are being made.
