Apple Stock News
For the latest Apple Stock News, AAPL closed at $113.05 on Wednesday, October 5th, with a 0.04% gain, or $0.05 from its previous close of $113.00 per share.
As the speculation for a takeover of Netflix is pushing its stocks higher. Walt Disney Company is rumored to be the candidate, however Apple has also been mentioned as a potential suitor. Apple has one of the largest cash reserve of over $200 billion compared to businesses, leading many to speculate what does the company plans to handle its cash on hands. Is a merger with Netflix a possibility? Apple can afford Netflix’s $50 billion price tag. If Apple is looking to diversify from selling hardware to service, owning Netflix could increase Apple’s revenue source by approx. $7 billion. Apple could become the dominant company in download internet traffic. Netflix alone claims to have a 37% share of the traffic in North America alone.
Despite the possibilities in benefits, it does not seem likely that a hardware company would be interested in merging with an internet television network. If such a merger were to take place, this would be the largest acquisition in the company’s history. Fortune questions Netflix’s price tag and a suitor’s timeline to recoup its return in investment.
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