Apple have a vast supply of cash and no debt – so what to do? Well, I just had a vision of Steve Jobs as Smaug, on top of his treasure pile, but apparently that’s not the case, and the company is looking to spend.
According to rumours sweeping Wall Street, Apple are considering a take over. Perhaps they could be looking at at Adobe, the owners of Flash – there’s some amusement to be had in that notion; Or perhaps Sony, which would include the movie studio; or the last option being considered is Disney, and all of their many subsidaries.
That’s just how rich Apple are.
Now, that these rumours started as pure speculation in a column from finance site Barron’s simply appears to have been ignored, and Sony shares have climbed up by a reported 3%. So do Wall Street know something that isn’t being made public? Were the rumours in Barron’s based on something more solid? Or is this how the stock exchange works, people gambling on hearsay and gossip without even checking for a source?
I expect it’s the latter. How frightening.