Sony Receives Stock Market Boost Amidst Apple Buyout Rumors
Rumors have been flying as of late regarding the possibility of Apple acquiring big name companies such as Facebook, Adobe, Disney and, more importantly, Sony. As stocks fell Tuesday in Japan, Sony manages to stay afloat and even gain value amidst these rumors that Apple may potentially move to acquire the company. Shares for Sony rose over 1.5% as word spread after Apple’s Steve Jobs spoke with investors. Sony only has a market value of about $33 billion, which would make the electronics giant an easy target for a company like Apple which boasts a market value of over $350 billion and a cash hoard of over $50 billion, which was added to as a result of Apple denying investors any sort of dividend this time around.
While most analysts are dismissing these rumors, Jobs isn’t ruling anything out just yet, claiming that there are “one or more strategic opportunities in the future” for Apple, while Sony responded with the usual “we cannot comment on rumors or speculation.” Odds are this is just isn’t going to happen, but one could only imagine the possibilities of an Apple-backed PlayStation brand. Until something that epic happens, we can only dream…