Market Overview

When Will Apple Buy A Big Company?

Share:
When Will Apple Buy A Big Company?
Related AAPL
Apple's iPhone 8 Redesign Will Likely Feature OLED Screens, Higher Price
Google Pixel Wins On Black Friday
Catch 22? (Seeking Alpha)

Jim Cramer spoke on CNBC's "Mad Money" with Tim Cook, the CEO of Apple Inc. (NASDAQ: AAPL), about the future of the company.

When it comes to the buyback program, Cook explained that the management is trying to be opportunistic in buying. They are going to buy when they think the company is undervalued, and they think that's the case now.

Apple hasn't acquired a very large company yet, but it is very acquisitive. He suggested new acquisitions could come in the services area, but also in a number of other purchases. Apple acquires a company every three weeks, and does that to get access to technology and to get really great people, Cook explained. He's very excited about new products in the pipeline, but he didn't want to reveal any details. He believes Apple Watch is going to be a huge success.

Related Link: Tim Cook Believes Apple Still Has Growth Opportunities

Cook thinks the beauty of the Wall Street is its diverse group of thoughts. Apple is reasonably good at forecasting what the company is going to do, and although he doesn't want to project performance in one quarter, he feels the company has growth potential because people love its products, there are great innovations in the pipeline, it's in great markets and it has huge opportunities geographically.

Other Voices From The Street

Tim Cook is not alone in his thinking.

Piper Jaffray's Gene Munster, who recently spoke on Benzinga's PreMarket Prep, has echoed some of Cook's sentiment toward expansion, previously suggesting Apple should acquire Tesla Motors Inc (NASDAQ: TSLA).

Additionally, Albert Fried & Company mentioned earlier in April that TiVo Inc. (NASDAQ: TIVO) could be a "better fit" with consumer electronic companies such as Apple.

Posted-In: CNBC Long Ideas Jim Cramer Buybacks M&A Top Stories Tech Media Best of Benzinga

 

Related Articles (AAPL + TIVO)

View Comments and Join the Discussion!