Apple's Former Boss Says the Company Should Make Big Acquisitions

Has lots of cash reserves

Apple should use its enormous cash reserves to make some big-name acquisitions, the company's former boss John Sculley has said.

He said it could shift the "whole landscape of e-commerce" if it bought, for example, eBay.

He said it should ignore the wishes of activist investor Carl Icahn, who wants the company to buy back stock.

"Apple's about building great products, building and shaping markets," Mr Sculley said.

"Carl Icahn has suggested to [Apple chief executive] Tim Cook, 'Why don't you buy more stock back or make a bigger dividend?'