And we have a winner for the dumbest Apple rumor of the day/week/month – Apple is going to buy Sony to get into the gaming business!
The International Business Times reports:
Sony shares rose 3 percent on Tuesday on speculation that Apple, in its bid to join the gaming bandwagon, was vying to acquire the company.
Reuters reported that the speculation was fueled by a report from Barron’s that stated that cash-rich Apple could be aiming for acquisition and named Adobe, Sony and Disney as potential targets.
Apple currently has $50 billion in cash reserves and has a market capitalization of $282 billion while Sony has a market cap of $34 billion. Financially Sony is within Apple’s reach.
It is surmised that Apple is primarily targeting Sony’s gaming segment which includes its PlayStation line of products. Apple lacks a significant presence in the gaming industry where Microsoft, with its Xbox line of products, and Nintendo are major players.
Of course the Sony rumor followed reports that Apple was also interested in companies like EA, Netflix, Disney, and even Adobe. Clearly these hacks have no comprehension of how Apple operates. Apple makes surgical acquisitions and is not at all interested in spending billions on companies that would add little to no value to Apple’s product roadmap. From Fingerworks to PA Semi, Apple’s acquisition history underscores the company’s reluctance to make big moves solely for the sake of making a big move.