What you need to know
- A Rosenblatt analyst has wildly postulated that Apple could end up buying Disney thanks to the coronavirus pandemic.
- That's because its shares are down 34%.
- He also says that Disney+ could boost Apple TV+ and that now might be the time to "take advantage of the volatility."
A Rosenblatt analyst has said that Apple could consider buying Disney, as its shares have fallen 34% due to the coronavirus.
As noted by Seeking Alpha. Rosenblatt's Bernie McTernan claims Apple could consider the acquisition because of the 34% sell-off of Disney's shares stemming from the coronavirus pandemic. Disney's shares have fallen sharply since the beginning of the outbreak, suffering heavily amidst wider market volatility.
In a research note reportedly titled "Buying Opportunity for You...or Apple?", McTernan seems to think that there's a chance Apple could "take advantage of the volatility" stating:
He also seems to think that Disney's immense library of content could provide the boost Apple TV+ needs to really get off the ground. Disney has a market cap of around $165B, whilst Apple holds around $107B in cash and securities.
The suggestion is, of course, mad, but these are crazy times we live in.
As Philip Elmer-DeWitt notes:
The simplest take? No. Apple, of course, has its own issues to deal with, after its shares tumbled in trading yesterday. Pre-market trading for today seems to indicate it will recover much of those losses when the bell rings in New York.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.
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