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Apple Could Buy Netflix, According To Citi Analysts
03 January 2018, 01:11 | Francis Delgado
Citi Apple acquisition targetsMore
But if Citi analysts Jim Suva and Asiya Merchant are to be believed, Apple might purchase Netflix for an estimated $104 billion.
After taxes, Apple would bring roughly $220 billion, with that sum growing about $50 billion each year. "This is a good problem to have", Suva and Merchant wrote to clients. "Historically, Apple has avoided repatriating cash to the USA to avoid high taxation. With over 90 percent of its cash sitting overseas, a one-time 10 percent repatriation tax would give Apple $220 billion for M&A or buybacks".
The analysts have a few other companies earmarked for potential Apple acquisitions, notably Disney at around 25% likelihood and game publishers Take Two and Activision at the 10% mark.
The analysts say that Apple is only going to need a third of that cash to fund its purchase of Netflix.
Along with the cut, the companies are allowed once repatriate cash that is stored overseas and that too without any major tax hit. Netflix market cap.is approx.
Apple's struggle to establish itself as a key player in internet broadcasting, despite launching Apple TV and working on numerous TV shows, is well documented. The company is also developing its own scripted video series which will star Reese Witherspoon and Jennifer Aniston.
However, this prediction should come with a huge grain of salt: namely, that this is all on the words of analysts who, as Forbes says, "have nothing to lose". Its iTunes, though a massive hit initially but soon the likes of Netflix, Hulu, and Amazon have gained more viewers.
The thought is that Apple has long wanted a successful TV and movie offering.
Wall Street Journal points out that HBO spent about $2 billion on content last year, while Amazon spent around $1 billion in 2013 alone, the year it started original programming.
As one of the richest companies in the world, Apple certainly has the financial clout to buy just about anything it sets its eyes on.
He argued that the streaming firm is "actually being more judicious" about how much it spends on original content, contrary to the many headlines reporting that it's willing to spend $20 million per original TV episode.
Nollen predicted that Netflix will increase original content from 25 percent in 2017 to 60 percent in 2020.
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