With Netflix having an enviable revenue jump with 118 million streaming subscribers globally, it is safe to assume Apple would like to know how. Apple has always been a profit motivated company, like any other so if they are looking at the $3.28 billion in the pockets of Netflix right now, they may well be considering the streaming business.
Apple buying Netflix may also be a good guess, considering Business Insider gave it a 40% chance. The argument backs itself with the knowledge that Apple has $252 billion in overseas cash and needs somewhere to put it. Also, no doubt, Apple will have a gala time making the headlines using the money to buy Netflix rather than the usual investment in research or buying a small company.
With the current tax reform, multiple tech companies are now bringing in their cash stored overseas at a rate of 15.5% much less than before. This money could be used to give Apple exactly what it wants. A step into the streaming business. GBH Insights head of technology research Daniel Ives says he anticipates American businesses will use about 70% of that overseas cash on share buybacks and dividend cash. This could allow Apple to battle with Netflix, Facebook, Amazon and Walt Disney who are all spending aggressively on streaming.
On the flip side, Netflix is an incredibly expensive buy for Apple. Citi probably know this but their clients with Netflix shares will be happy anyways with the increase in Netflix share values.