CUPERTINO, Calif. – As Apple’s (AAPL) stash of cash grows, so does the possibility that the company will use some of the money for a huge acquisition that would expand its empire beyond iPhones and other gadgets. In its latest quarterly report out Tuesday after the stock market closed, Apple reported that its cash reserves are now about $257 billion.
But in recent months the takeover talk has swirled around whether Apple might do something even more dramatic by trying to buy Walt Disney (DIS).
A marriage between Apple and Disney would create the world’s first company worth $1 trillion while uniting some of the world’s most successful brands in technology and entertainment.
Apple’s chief financial officer told the Associated Press that the company is looking at potential acquisitions of all sizes.
It’s earnings report for fiscal second quarter showed net income of $11.03 billion, or $2.10 per share.
The profit results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
Could the new iPhone cost $1,000?
With Apple’s 10th anniversary around the corner, reports of what the next iPhone could look like have begun to circulate. CNET Senior Editor Bria…
The maker of iPhones, iPads and other products posted revenue of $52.9 billion in the period, just barely topping Street forecasts. Ten analysts surveyed by Zacks expected $52.61 billion.
For the current quarter ending in July, Apple said it expects revenue in the range of $43.5 billion to $45.5 billion. Analysts surveyed by Zacks had expected revenue of $45.05 billion.
Apple shares have climbed 27 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 7 percent. After closing regular trading on Tuesday at $147.51, a rise of 58 percent in the last 12 months, the shares dropped 1.7 percent in late trading, falling $2.46 to $145.
© 2017 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
Source: CBS News – Moneywatch