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It's time for Apple to buy—not build—its way into AI [Fortune]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Those 19 words—one imagines them etched in stone somewhere at Apple HQ in Cupertino, Calif.—have served as Apple's standard statement about acquisitions for years (to the point that tech reporters can recite the phrase from memory). As far as PR statements go, it's actually a pretty accurate description of Apple's approach to M&A. With the exception of 2014's still-perplexing $3 billion Beats acquisition, Apple likes to buy companies that are small and relatively low profile—typically they're the early pieces of whatever, longer-term technological puzzle Apple is quietly assembling (which could be anything from the VisionPro to its own line of in-house microprocessors). The problem for Apple is that there's only one tech puzzle to assemble that matters today: generative AI. It's a game changer, with the power to upend even the most dominant of business models. And it's too late for Apple to start putting that puzzle together on its own. Its biggest competitors, including Microsof
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