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Stock impact report

Citi lists Netflix, Tesla as potential takeover targets for Apple [Toronto Globe and Mail (Ontario, Canada)]

Apple Inc. (AAPL) 
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
Citigroup listed seven companies as potential takeover targets for Apple Inc, including Netflix, Walt Disney and Tesla Inc, as a way to put its cash hoard of more than $250-billion to work. With over 90 per cent of its cash sitting overseas, a one-time 10-per-cent repatriation tax would give Apple $220-billion for acquisitions or buybacks, Citigroup analyst Jim Suva said in a note to clients. U.S. President Donald Trump’s tax blueprint, which was unveiled last month, proposes allowing multinationals to bring in overseas profits at a tax rate of 10 per cent versus 35 per cent now. “Since one of the new administration’s top priorities is to allow US companies to repatriate overseas cash at a lower tax rate, Apple may have a more acute need to put this cash to use,” Mr. Suva said. The analyst is rated three out of five stars for his recommendations on Apple, according to Thomson Reuters StarMine. The other potential acquisition targets include video game developers Activision Show less Read more
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