In the excellent Monday Note:
Acquiring Sony would give Apple a huge competitive advantage: access to the most advanced [camera] chips of the industry, ahead of its smartphone competitors. Given the camera’s importance to the iPhone, this is a strong competitive argument against Samsung’s Galaxy or Google’s Pixel.
A brand new Apple Pictures Entertainment built on SPE would make Apple one of the Big Six Hollywood studios, with a market share nearly at par with 20th Century Fox (both stood in the 10 percent range over the recent years). No doubt that, with the iTunes store, Apple TV, iPad and iPhone, an Apple-Sony Studios would thrive.
Sony’s Playstation dominates the game console sector with a market share of 57 percent and about $20B in sales. PS4’s sales are twice that of Microsoft’s Xbox and four times Nintendo’s Wii.
I find it hard to argue with this. I don’t think it will happen, but the pieces are all here.