During Apple’s fiscal Q2 2022 earnings calls, company CEO Tim Cook was asked about Apple’s strategy for acquiring other companies. According to Cook, Apple is not exactly concerned with acquiring other large companies but, rather, with incorporating new talent.

The question was specifically about why Apple doesn’t acquire big companies in the health, content, or fitness segment (in references to Peloton and Netflix). The questioner noted that Apple has billions of dollars on hand, which makes these acquisitions entirely possible.

Although Tim Cook said that Apple doesn’t rule out acquiring large companies, he mentioned that Apple’s focus is on acquiring companies in search of IP and talent – which is something Apple also finds in smaller companies and startups.

Cook even joked about not discussing the list of potential companies to be acquired by Apple on his phone.

We are always looking at companies to buy. We acquire a lot of smaller companies, and we’ll continue to do that for IP and to incorporate talent. We don’t discount something larger if the opportunity presents itself. I’m not going to go through my list with you on this call, but we’re always looking.

Multiple market analysts have already said they are in favor of Apple acquiring the fitness company Peloton, which would help in the development of the Apple Watch and Apple Fitness+. Some analysts also believe that Apple should have bought Netflix instead of working on Apple TV+ from scratch.

Apple this quarter reported a revenue of $97.3 billion, with a profit of $25 billion and earnings-per-share of $1.52. While the iPhone segment remains the most important for Apple, the services category was the fastest growing compared to last year with $19.82 billion in revenue.

Read also:

FTC: We use income earning auto affiliate links. More.

Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Filipe Espósito

Filipe Espósito is a Brazilian tech Journalist who started covering Apple news on iHelp BR with some exclusive scoops — including the reveal of the new Apple Watch Series 5 models in titanium and ceramic. He joined 9to5Mac to share even more tech news around the world.