CUPERTINO, Calif. (TheStreet) -- Rumors are swirling that Apple (AAPL) may acquire flash memory maker Anobit for between $400 million and $500 million. Could this be a sign that new CEO Tim Cook was serious when he said he's "not religious" about hoarding the company's cash?
|Apple is reportedly considering an acquisition of flash memory maker Anobit.|
With more than $81 billion in cash on its books, there has already been speculation that Cook may carve off some of Apple's cash haul, and a flash memory acquisition has been cited as a possibility. A possible Anobit deal could therefore signal a shift in Apple's strategy.
Today's Anobit rumor may be the start of what Cook meant when he said he was "not religious." Apple has historically been averse to large acquisitions, with NeXT Computer being its largest acquisition to date, at a reported price tag of $404 million, according to Wikipedia. Apple does not publicly disclose how much it pays for acquisitions.
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