Wow, we just got this report from comicbook.com that it’s possible Apple could be looking to acquire Disney.
If you thought Disney was the king of the castle after acquiring 20th Century Fox last year, you might want to sit down. After the stock market has started on a slippery downward slope as a direct result of the coronavirus crisis, one Wall Street analyst suggests a company the size of Apple could swoop in and buy Disney as its stock continues to fall. In a letter to clients Friday, Rosenblatt Securities’ Bernie McTernan suggested the Tim Cook-led company could make a reasonable bid for Bob Chapek’s Disney now that shares of the latter have slipped 36 percent since January.
The coronavirus has hit many the entertainment industry with a vengeance. With many major films and tv shows having to pause production causing a massive expense that was not planned for.
Disney is one of the entertainment giants that has been hit the hardest. Not only does it have content on all of those mediums, its Walt Disney World and Disneyland theme parks have been forced to shut down. According to THR, this has put Disney in a spot in which it’s susceptible to being acquired by a larger company like Apple. Disney’s stocks are reflective of the hard hit the entertainment industry has endured. Walt Disney Co. officially dropped below the $100 mark last week. As of Friday, Disney’s stocks rose 11.2 percent to $102.52 while Apple is currently thriving, jumping 12 percent to $277.92.
What do you think about this potentially historic news? Comment your thoughts below!
Source Credit: comicbook.com
Source Credit: ScreenRant