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(Image courtesy of MacRumors)
What does it take to get Sony’s stock price up a few clicks? Turns out that recent speculation about an Apple takeover will do the trick just fine.
MacRumors is reporting that Sony Corp.’s stock went up three percent on Tuesday, apparently lifted by reports that the company may get acquired by none other than Apple Inc. But would Sony go along with the buyout willingly?
According to Reuters, no way. “If Apple tries to buy the whole of Sony, it will be a hostile takeover, and that will probably not succeed in Japan,” said one unnamed analyst based in Tokyo. “I don’t think Sony would want to join hands with Apple since it is working with Google to compete against Apple.”
The acquisition rumors have been the talk du jour for over a week after Apple announced during its fiscal fourth-quarter financial results that the company was resting comfortably on a $51 billion stockpile of cash -- and holding on to it for the possibility of “strategic opportunities” in the future.
“We strongly believe that one or more very strategic opportunities may come along, that we can take, that we’re in a unique position to take advantage of because of our strong cash position,” Apple CEO Steve Jobs replied when asked about returning some of the dough to investors.
That comment has led to wild speculation that Apple is going to buy everyone from gaming giant Electronic Arts to Netflix, Disney to Facebook, Adobe and yes, even Sony -- all without a credible source of any kind to back up the claims.
Whatever Apple might be planning, the pile of cash seems unstoppable, with one analyst projecting that Cupertino will have a $90 billion reserve by 2012 if the company continues its current revenue growth rate.
Follow this article’s author, J.R. Bookwalter on Twitter