Apple said to be developing its own original programming

Apple, which has a staggering $256.8 billion cash stockpile, celebrated its 40th anniversary last year. The Silicon Valley legend sprang out of Steve Jobs' garage to reshape modern life with trend-setting gadgets

Apple is reportedly working on producing its own original entertainment content, reports Variety.

According to the publication, the company will begin hiring for development and production in the coming months, with plans to roll out services next year.

The content would be in competition with streaming services like Netflix or Amazon Prime.

Strengthening rumors, Apple is said to have made a bid to snag three former hosts of "Top Gear" after they left the BBC series. Amazon eventually grabbed Jeremy Clarkson, James May and Richard Hammond.

Apple has thus far declined to comment on any future original movie or TV programming.