WASHINGTON, DC - MAY 21: Apple CEO Timothy Cook testifies before the Senate Homeland Security and Governmental Affairs Committee's Investigations Subcommittee about the company's offshore profit shifting and tax avoidance in the Dirksen Senate Office Building on Capitol Hill May 21, 2013 in Washington, DC. A Congressional report released Monday said that Apple, America's most profitable technology company, used a complex system of international subsidiaries and tax avoidance efforts to shift at least $74 billion from the reach of the Internal Revenue Service between 2009 and 2012. (Photo by Chip Somodevilla/Getty Images)
Apple chief Tim Cook told reporters that Apple isn't hoarding its pile of cash, it's buying companies -- nine since the fiscal year started in October.
Cook told an audience at the D11 Conference Wednesday that Apple has bought nine companies and has "picked up the pace," according to AllThingsD. Despite the nugget of information, Cook declined to disclose what companies and why.
However, Cook did say that Apple would likely continue to buy. "I think, if anything, we would do more of that in the future," he said. But when asked if Apple had anything big deals in the works, Cook indicated no, but that "we're not opposed to doing that, if it makes sense."
Cook denied making an offer for Waze, the crowdsourced mapping service that both Facebook and Google have allegedly been in negotiations with recently. But Cook did say that Apple is looking for new services for its iPhones to gain traction in the competitive market.
"We are making tons of investments in services,” he said. “I don’t want to announce something today, but it is an area that we are very focused on.”
Like his last appearance at D10, Cook gave little away and cleared up nothing about Apple's plans. Part of the interest in Apple is that it's corporate goings-on are such a mystery. We believe that Apple is constantly on the lookout for small companies with nifty ideas that will appear eventually in their devices. The only surprise was how many Apple admitted to buying so far.