PREVIOUS ARTICLENEXT ARTICLE
NEWS
By 26 October 2010 | Categories: news

0

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.

Apple also recently announced its financial results for Q4 that ended on 25 September 2010. The company posted record revenue of $20.34 billion and net quarterly profit of $4.31 billion.

USER COMMENTS

Read
Magazine Online
TechSmart.co.za is South Africa's leading magazine for tech product reviews, tech news, videos, tech specs and gadgets.
Start reading now >
Download latest issue

Have Your Say


What new tech or developments are you most anticipating this year?
New smartphone announcements (45 votes)
Technological breakthroughs (28 votes)
Launch of new consoles, or notebooks (14 votes)
Innovative Artificial Intelligence solutions (28 votes)
Biotechnology or medical advancements (21 votes)
Better business applications (132 votes)