Wall Street unimpressed by Beats acquisition: “Not what we want to see”
Judging by a roundup in The Wall Street Journal, analysts and investors appear not to share the enthusiasm for Beats acquisition express by Tim Cook and Eddy Cue. While Cook said he was “excited […] about this new chapter in our history” and Cue believed that “combining the two companies will help [music] grow again,” Wall Street is more skeptical.
“To see this kind of money spent for a company that gets most of its revenue from hardware business is not what we want to see,” said Dan Niles, chief investment officer of hedge fund AlphaOne Capital Partners …
