Apple Stock News:
Apple stock is currently down 6% for the month, as industry analysts believe that Apple’s iPhone sales are too weak, and will not meet expectations. We previously wrote that we believe that Apple is going to have a strong Holiday season, and that Apple investors should not be too worried, especially given the $200 billion in cash on the company’s balance sheet. Already committed to R&D, Daniel Ives of FBR Capital Markets speculates that Apple could potentially use all that cash to expand the brand through a big time acquisition.
Who could Apple possibly acquire? Daniel Ives speculates that Apple could potentially be targeting big name companies that would help bolster their presence in areas such as cloud computing, gadgetry and some of there more ambitious future.
One candidate that Ives mentioned is Box, a company that offers secure content management online such as file sharing. A second potential company is GoPro, the makers of versatile cameras that can record live action activities. Ives believes that these two companies could help expand Apple’s products, making a more diverse company.
Finally, the most outlandish potential acquisition candidate mentioned, is Tesla Motors, the popular maker of electric vehicles. This would be fitting, as Apple has been hinting at their efforts to compete with Google in developing an autonomous electric vehicle.
Although, it may seem a bit out there, considering Apple’s cash and dominance in the tech industry, it may not be too farfetched to expect an acquisition in the future.