Apple CEO: We've looked at a few big companies to buy

Tim Cook opens the door to making major acquisitions, but notes that so far, no company has passed its test. "Would we look again? I'm sure we will."

Apple CEO Tim Cook. CBS Interactive

Apple had considered a few blockbuster acquisitions in the past, but ultimately stuck with smaller deals.

That's according to CEO Tim Cook, speaking at an investor conference hosted by Goldman Sachs this morning. He said that Apple at points had looked at buying large companies, but in each case, they failed to pass muster.

"It didn't pass our test for various reasons, and we've looked at more than one," Cook said. "Would we look again? I'm sure we will."

Apple's decision to stay away from bigger deals has helped it avoid the pitfalls that have beset other tech companies from blockbuster deals have faced.

Cook noted in his comments that Apple would continue to make acquisitions and that it has generally averaged an acquisition every other month. The deals, however, have largely been smaller ones and made to scoop up talented people or interesting intellectual property, he said, adding that the company likes to own primary technologies behind its products.

He said that Apple doesn't feel the pressure to go out and acquire revenue.

"We want to make great products -- if a large company could help us do that even better, then that's of interest," he said. "But deliberate, thoughtful is our mantra. Cash is not burning a hole in our pocket."

 

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