Apple COO Cook on buying companies large and small, iPads coming to Best Buy, Apple TV, and more

“An Apple Inc. senior executive said on Tuesday the iPhone and Mac maker has looked at large companies as part of its mergers and acquisition strategy, but none have passed muster,” Gabriel Madway reports for Reuters. “Chief Operating Officer Tim Cook noted Apple has traditionally made small acquisitions for talent and technology.”

“Apple has roughly $40 billion in cash and securities, and many shareholders are wondering what it plans to do with its war chest,” Madway reports. “It recently made two relatively small acquisitions, buying mobile ad firm Quattro Wireless and music subscription service Lala.”

“Apple is preparing to launch its newest device, the iPad tablet computer, in the coming weeks. Cook said the iPad will be sold directly by Apple, and in some indirect channels with ‘assisted sales,’ such as Best Buy,” Madway reports. “Cook praised the iPad data pricing plan to be offered in the United States by carrier AT&T Inc. as ‘revolutionary,’ and brushed aside a question about what others would have to do become a carrier for the product. ‘I wouldn’t want to speculate about what else somebody would have to do to join the party.’”

“Cook conceded that [Apple TV] was ‘still a hobby’ but said the company believes in it and will continue to invest,” Madway reports. “The COO said Apple plans to open around 50 retail stores this year, at the top of its expected range.”

Full article here.

Source: MacDailyNews