Cook: Apple not against big acquisitions, new categories coming | iLounge News

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Cook: Apple not against big acquisitions, new categories coming

Contrary to its history, Apple is not opposed to making big acquisitions, CEO Tim Cook told the Wall Street Journal. “We’ve looked at big companies,” Cook said. “We have no problem spending 10 figures for the right company, for the right fit that’s in the best interest of Apple in the long-term. None. Zero.” The report juxtaposes Apple’s history of making smaller acquisitions with Google’s recent $3.2 billion purchase of Nest, a company founded by “Father of the iPod” Tony Fadell that has hired a large number of other ex-Apple employees.

Cook also reiterated in the interview that Apple will enter new categories this year. “There will be new categories. We’re not ready to talk about it, but we’re working on some really great stuff,” Cook said. The most obvious thought is that, as rumored, Apple will release the iWatch this year — though Cook’s use of “categories” suggests another new type of product could also be on the way.

Also in the interview, Cook revealed Apple has bought back $14 billion in stock since reporting its financial results about two weeks ago. Cook said the company was “surprised” by its 8 percent decline in shares since Jan. 28. Apple has now bought back more than $40 billion of its shares during the past week. “It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do,” he said.

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