Rumors Spread of Possible Acquisition of ARM by Apple

After reporting a 90 percent increase in second quarter fiscal 2012 net income, year over year, iPad, iPhone (News - Alert) and Mac computer manufacturer Apple, seems the popular company is having quite the financially lucrative year so far.

Of course, that also means Apple (News - Alert) needs a play to spend all that strong iPhone sales moolah. And what better way to do so than acquiring other companies to boost your services?

Reports have surfaced today that Apple is considering acquiring U.K. chipmaker ARM (News - Alert) for $8 billion.

Apple could not be immediately reached for comment, however, if in fact true, the acquisition of ARM, which supplies chips for the iPod, iPhones and iPad's A4 processor, could create an even bigger leg up on the competition than Apple already has.

The Cult of Mac story said that although there has been no official comment on or off-the-record on a Wednesday report by the Evening Standard, the rumor pushed stock prices for the U.K. chipmaker up 8.1 percent.