Sony (SNE) shares rose as much as 3% in Japan trading Tuesday on speculation that the company could be an acquisition target for Apple (AAPL), Reuters reports.
According to the story, the source of the rumor seems to be…hmmm…my own column in Barron’s over the weekend, in which I noted comments from CEO Steve Jobs last week suggesting that the company could use its cash to make a strategic acquisition or two; in the piece I noted that the company could do something aggressive, like bidding for Adobe (ADBE), Sony or even Disney (DIS). But that was pure speculation. Yeesh.
As reminder, here’s what Jobs said on the company’s post-earnings conference call last week:
�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 said on the call, and then he said it again. �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.� (Emphasis added.)
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