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Apple Isn't in the Sony Market, Calm Down
October 26, 2010 09:31 AM
All right, all right. Everyone, settle down. Take your seats. Listen up.
Apple isn't gearing up to buy Sony.
I realize Sony investors who drove the stock up 3% in Japan today are counting on it, but it's not happening. Thousands of blogs and tech sites are running with the rumor, leaving readers wondering what a PlayStation 4 is going to look like with a half-eaten apple on it. Even nuttier, how would Sony's partnership with Google and its new Google TV fare?
at least it'd come with a better remote
But the media frenzy seems to stem from a casual comment made by Barron's tech analyst Eric Savitz. On Saturday, Savitz
Steve Jobs' recent comments on how Apple plans on spending the $51 billion on its balance sheet. As Jobs is wont to do, he kept things vague, saying, "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."
He later added, "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."
Savitz conjectured a number of companies for which Apple could be in the market: Adobe, Disney, and yes, Sony.
Apparently, that got the rumor ball rolling as more and more blogs jumped on the "Apple's buying Sony" bandwagon. It prompted Savitz to even do a
. He clarified, "[That] was pure speculation. Yeesh."
So, as with all outlandish Apple rumors, they make for compelling news but they're generally crap.
Then again, that Verizon iPhone certainly seems more imminent now.
No positions in stocks mentioned.
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