Radar Movers: Apple and Facebook Struggle, Comcast Announces Major Acquisition
Shares of Apple (NASDAQ:AAPL) fell 2.5 percent on Tuesday and continue to edge lower in late afternoon trading. Tim Cooks says Apple has looked at purchasing more than one large company in the past, but none passed their test for acquisition. Speaking at the Goldman Sachs technology conference, he was answering a question on whether there was something about Apple’s culture that turned it against the concept of large acquisitions. Apple has been criticized for not making its $137 billion in cash holdings work by either buying companies or returning cash to investors.