Apple Could Be Gearing up to Buy Netflix

According to rumors, Citi analysts have been pushing to clients that there is a possibility that Apple might be gearing up to buy Netflix. Although the chance of the acquisition is only set at 40 percent at the moment, if the deal goes through we could be set to see one of the biggest tech deals in recent years.

Apparently, the rumor is based around Apple’s $252 billion USD cash stockpile held overseas that should be repatriated soon after President Trump’s newly passed tax cuts. The new cut gives companies a one-time allowance to bring back overseas cash with a nominal 10 percent tax hit. If Apple brings back that cash stockpile it will be looking to make a major move, like buying the streaming service valued at $87 billion USD.

Though some insiders are noting the acquisition is highly unlikely, as Apple recently put forward a plan to inject $1 billion USD into its original content production. Neither Apple and Netflix have responded to the rumor, but let us know what you think about the possible powerhouse acquisition.

For more Apple news, the multinational technology company recently issued an official apology for allegedly slowing down older iPhones.

Click here to view full gallery at HYPEBEAST

Source: Hypebeast
First Posted @ Apple Could Be Gearing up to Buy Netflix

Leave a Reply

Your email address will not be published. Required fields are marked *