Apple's buying spree has averaged out to acquiring a new company every other month, and CEO Tim Cook said they have even looked at buying some big companies, too. Mr. Cook shared that inside look into Apple during an interview with David Shope at the Goldman Sachs Technology and Internet Conference Tuesday morning.
Apple has been on a company buying spree
"Look at the last three years," Mr. Cook said. "We've averaged an acquisition every other month."
He added that Apple wants to control the primary technology that drives its products, and tossed out the purchase of chip designer PA Semi as an example. He said,
We bought a company called PA Semi a couple of years ago. We were in the process of creating the [iOS] engines. 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.
In other words, Apple is on the hunt for more companies to buy, and its eyes are on companies that design or make products that will enhance its own gear and services.
While Apple may be averaging an acquisition every other month, its executive team isn't feeling pressured to buy more right away.
"We will look again, I'm sure," he said. "Cash isn't burning a hole in our pocket."