This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Will Tim Cook Open Apple's Wallet?

Stock quotes in this article: AAPL, FIO

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.

Apple has done only a handful of mergers since Steve Jobs returned to the company in 1998 that have surpassed the $200 million mark. These include deals for NeXT, P.A. Semi, Quattro Wireless, C3 Technologies, and, according to rumors, Siri.

Cook, however, hinted at a shifting cash stragtegy on the company's fourth-quarter earnings call. "I'm not religious about holding cash or not holding it -- I'm religious about a lot of things but not that one," he said, in response to a question from Merrill Lynch analyst Scott Craig. "We will continually ask ourselves what's in Apple's best interest and always do what we believe is in Apple's best interest."

Top Videos of 2011


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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs