Apple eschews major acquisitions despite $165bn cash hoard and falling tech valuations

Over the past two decades, Apple has averaged an annual return of 39%, including dividends. The S&P 500 index, by comparison, sits at 10%

Even with Apple’s revenue growth projected to shrink 2% in  2023, the company appears to be doing even less on the acquisition front.

Apple's slowing growth and cash of $165bn (€152bn) on its balance sheet are again fuelling speculation that the world’s most valuable company should make a big acquisition.

Entertainment giant Walt Disney recently joined a long list of potential acquisition targets that over the years has grown to include Netflix, Tesla, Peloton, and Sonos. They all have one thing in common: Anyone betting that Apple would buy them has so far been sorely disappointed.