Apple CEO Cook explains how Apple obtains innovative new features for the iPhone

For those who say that Apple should be using its vast wealth to buy other companies and perhaps bring some new innovations to its products (like, say, the iPhone), CEO Tim Cook has an answer. The executive told CNBC that Apple buys a company every two to three weeks on average. He said that over the last six months, the tech giant has picked up 20 to 25 new firms.

Apple's MO has always been to purchase small companies under the radar. The largest transaction Apple made to date was its $3 billion purchase of Beats Audio back in 2014. A more typical purchase was Apple's ...

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