An interesting look at Apple’s mergers and acquisitions strategy.

Apple’s mergers and acquisitions (M&A) strategy is misunderstood. Consensus has settled on the view that Apple needs to change its rigid philosophy towards M&A and begin using its $233 billion of cash to buy larger competitors and find new sources of revenue. These suggestions are misplaced. Apple’s M&A strategy has actually seen quite a bit of change over the years, and there is evidence that we are about to see even greater change going forward. Apple’s investment in Didi Chuxing marks the official start of Apple M&A entering a new phase as the company pivots into transportation.