Sony’s shares rose by almost 3% at one stage on Tuesday following speculation that the Japanese electronics manufacturer might be acquired by Apple. 

According to Reuters, the speculation finds its origin in a report on the news blog of the financial magazine Barron’s. The article stated that Apple, who has a $51 billion cash pile, could be mulling over a huge acquisition. Speculation has been rife following the original Barron’s article over potential acquisition targets, with Adobe, Sony, EA, Netflix as well as Disney having been named. 

Last week, during a conference call with investors and reporters that followed Cupertino’s latest earnings announcement, the company’s CEO and co-founder Steve Jobs stated the following: “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.” 

“So I think that we would like to continue to keep our powder dry because we do feel that there are one or more strategic opportunities in the future,” he continued.