Firstly I am long-time YHOO Long and own a few Ks of YHOO shares. But sorry guys I do not see buyout or merger here. Love it if it will happen though. It is very true they do not compete against other but what I am seeing is a major partnership in the making. AAPL competes instead against MSFT and GOOG. AAPL is a product and software company but unless they decided to go be internet too, then YHOO is perfect fit to AAPL.