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Home / Business / Apple has bought around two dozen companies over the past 6 months, says Tim Cook

Apple has bought around two dozen companies over the past 6 months, says Tim Cook



They don't always make headlines, but Apple Inc. has quickly snapped up companies at a fast pace.

CEO Tim Cook told CNBC in a weekend talk from Berkshire Hathaway Inc.

BRK.B, -2.49%

annual meeting that tech giant has bought between 20 and 25 companies over the past six months.

"If we have money again, we'll see what else we [can] do," Cook told CNBC. "We get everything we need that fits and has a strategic purpose for it. And then we acquire a company on average every two to three weeks."

By comparison, Apple purchased 18 companies in 2018.

Apple

AAPL, -1.54%

rarely announces or confirms their acquisitions, except for a statement stating that it "purchases smaller technology companies from time to time, and we generally do not discuss our intent or plans."

The most recorded acquisitions in recent years include Beats in 2014 – $ 3 billion, the biggest purchase in Apple's history – Automation App Workflow in 2017 and Magazine App Texture in 2018.

Apple can certainly afford to buy a company here and there – it has a net cash balance of $ 113 billion, according to the quarterly report, released last week.

Apple shares increase by 32% so far, compared to a 13% gain for the Dow Jones Industrial

DJIA, -0.25%

of which it is a component.

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