WION Web Team New Delhi, Delhi, India
Jan 02, 2018, 10.55 AM
Citi analysts Jim Suva and Asiya Merchant have anticipated a 40 per cent chance of Apple acquiring Netflix.
Several media reports citing the analysts have said that Apple may acquire the popular entertainment company Netflix.
The prediction has come after the clearing of US President's new corporate tax.
The recent change to the tax system will allow Apple to bring back huge funds in the country that was stocked outside due to the previous taxation system.
Reports say that about 90 per cent of the Apple's cash is sitting overseas.
Trump's Corporate Tax cut will repatriate over $200 billion cash to Apple, which it can utilise to buy the leading entertainment company.
Analysts have said that the tech giant had been avoiding repatriating cash to the US under the previous tax system to avoid high taxation.
Apple had been trying to offer compelling TV shows and movies, however, with the popularity of services such as Netflix, Amazon, Hulu, the tech giant was struggling to offer such services. Though iTunes had been a huge hit for the company.
Netflix, one of the leading video streaming services, has emerged as a major player in the TV game.
The company diverts billions of dollars on original series. The streaming service has designed some of the most popular shows like House of Cards, Black Mirror, 13 reasons why, Better call Saul and many more.