Want to make loads of cash? Put out a rumour that Apple is out to buy you!
While the analytics are still recovering from the shock of more than 100% increase in iPhone sales last quarter, there’s a new star on the stock market today. I’m talking about ARM Holdings – a UK based chipmaker that is responsible for the innards of the dream device – the iPad.
This morning a rumour (source unknown) surfaced that Apple is thinking of acquiring the said company following the stellar quarter results. On one hand it kind of makes sense; everybody knows how controlling the big A can be and having full and complete control over the supplier of their state of the art devices is certainly very appealing – especially after the recent adaption of Android for the iPhone. On the other hand, traders estimate ARM at about Â£5.2 billion, which would make for a verrry costly purchase. And while Apple certainly has the cash, I’m not sure they would spend it on ARM. Regardless, the rumours shot the price of ARM shares by %3.2 up to 251.1p – which immediately landed it in Footsie winners’ list.
Whether Apple will indeed buy up ARM and tighten it’s hold on the innards of its latest mobile devices or this is simply an elaborate hoax for some quick cash making, today is good day for both: the big A and the smaller ARM.[via ThisIsLondon]