Apple has invested $1 billion in fast-growing Chinese ride-hailing service Didi Chuxing. Although the deal is not particularly material for a company of Apple’s size, it marks a significant departure from Apple’s strategy of investing in or acquiring small companies that develop technologies that it can deploy in its products and services. We believe that this is positive for Apple’s stock, since it signals that the company could get more creative in deploying its $233 billion cash hoard beyond its share buyback program and low-yield fixed income securities.

from Forbes – Tech http://ift.tt/1skH4ic
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