Apple’s latest major acquisition: Apple
Good if you are a shareholder. Its not if their cap ex spending is in decline or something.
Analysts and pundits regularly state that Apple “needs” to use some of its growing cash pile on major acquisitions. Yahoo recently spent $1.1 billion to acquire Tumblr, Google reportedly spent more than $1 billion on its recent Waze buy… where are the massive Apple deals? As Fortune’s Philip Elmer-DeWitt points out, Apple outspent all other major tech companies by a huge margin last quarter on a major acquisition. What did it buy? Apple.
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