Apple (NASDAQ: AAPL) has historically not been one to make splashy acquisitions. The California tech giant made its largest purchase in 2014 by buying Beats Electronics for $3 billion. For a business valued today at close to $3 trillion, this was a tiny amount spent to propel Apple into the audio device business.
A new potential target, Peloton Interactive (NASDAQ: PTON), might make sense for Apple to look at right now. The at-home fitness company was approaching a $50 billion market cap 12 months ago, but it has since fallen out of favor with Wall Street as the pandemic surge has faded. At the same time, Apple is in the midst of making a big push in the health and wellness space.
Could it be a good idea for Apple to buy Peloton? Let's take a look.
Source Fool.com