CITI: There is a 40% chance Apple will acquire Netflix
CITI: There is a 40% chance Apple will acquire Netflix Apple CEO Tim Cook and Netflix CEO Reed Hastings. Citi analysts say that there is a 40% likelihood of Apple acquiring Netflix. Apple will be able to repatriate about $US220 billion in cash to the US under the Trump tax cut. The company would need only one-third of that to snap up Netflix. There is a 40% likelihood that Apple will acquire Netflix now that US President Trump’s corporate tax cut has been passed, according to Citi analysts Jim Suva and Asiya Merchant. The cut in corporate taxes, along with aone-time allowance for companies to repatriate cash stored overseas without a major tax hit, will give Apple a much larger cash warchest to buy new companies. Apple has about $US252 billion in cash, much of it in foreign jurisdictions, which previou...