Reports Suggest Apple May Buy Netflix

Reports Suggest Apple May Buy Netflix

According to reports from Asiya Merchant and Jim Suva, two notable analysts with the New York-headquartered bank, Apple may be in the market to purchase content producer and streamer Netflix.

"The firm has too much cash - almost $250 billion (roughly Rs. 15.9 lakh crores) - growing at $50 billion (roughly Rs. 3.18 lakh crores) a year".

According to Suva and Merchant, the likelihood of Apple making the purchase this year is around 40 percent.

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Not only that, but the opportunity to repatriate money held in offshore accounts without paying a bunch of extra taxes means that Apple can bring the cash necessary for the purchase back into the States. "With over 90% of its cash sitting overseas, a one-time 10% repatriation tax would give Apple $US220 billion for M&A or buybacks". Apple is said to have a decent chance of buying Netflix at some point this year, which would certainly shake up the streaming scene.

Apple would need only a third of that cash to buy Netflix, the pair say.

Last month, President Trump signed a new law that gives corporations a one-time allowance to repatriate cash stored overseas without taking a major tax hit. He believes that the streaming firm is looking beyond what he describes as "the market's obsession" with subscriber numbers by trying to improve its earnings and revenue quality. Let us know below.

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It's no denying that Apple has been doing a lot lately to see itself among the most popular streaming services in the world. Apple's very deep pockets should also mean that it can afford to foot the bill for more awesome Netflix shows like "Stranger Things".

Apple in November ordered two seasons of a scripted video series starring Jennifer Aniston and Reese Witherspoon that doesn't have a launch date. Apple wants to change that and is already working on creating more original shows. Even though iTunes has been a huge hit in the past with video content, present-day viewers are preferring services like Netflix, Amazon Prime or Hulu. In August 2017, the Wall Street Journal reported that Apple plans to invest roughly $1 billion to procure and produce original content over the next year.

Nollen predicted that Netflix will increase original content from 25 percent in 2017 to 60 percent in 2020.

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