I try not to give billionaires or corporate managers unsolicited advice on what they should do with their money. Warren Buffett and Apple Inc. both have done rather well for themselves and their investors without my help. Today, I violate my own rule: Apple should buy Netflix Inc. in an all-stock deal for about $100 billion.
Let’s unpack this flight of fancy. In this scenario, Apple would be wildly overpaying for Netflix. However, the world’s most valuable company has a not-so-secret weapon: its own wildly expensive currency. Apple, whose stock price has surged 50 percent this year, is worth almost $900 billion. It is on its way to becoming the first trillion-dollar company.
