Sony Rises on 'Pure Speculation' of Apple Interest

Shares of Japanese electronics manufacturer Sony (SNE) rose as much as 3% on Tuesday in Japan on rumors it could be a potential acquisition target of Apple (AAPL), Reuters reported. But the media reports that the traders cited were apparently just musings by columnist Eric Savitz of Barron's.

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Last week, when Apple CEO Steve Jobs was asked what his company plans to do with its $51 billion in cash, he said "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."

Following Jobs's remarks, Savitz suggested in his Saturday column that Apple could be contemplating a big acquisition and noted speculation that Adobe (ADBE), Sony and Disney (DIS) could be potential targets. "But," Savitz wrote today, "that was pure speculation. Yeesh."

A Sony spokeswoman told Reuters the company cannot comment on speculation. And Reuters further says some analysts are skeptical about such a move.