Apple's former boss John Sculley has reportedly said that the tech giant should use its cash reserves to buy some big companies instead of agreeing to investor Carl Icahn idea of buying back stock.
Sculley, who was the CEO of Apple between 1983-1993, said that if, for example, Apple buys eBay, it could shift the whole landscape of e-commerce.
According to the BBC, Sculley would prefer Apple continuing investing in building and making acquisitions rather than buying more stock or giving more dividends.
Sculley said that as traditionally Apple has not acquired large scale companies, but its possibilities would explore if it went out to buy eBay and PayPal, the report added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app