This isn't a new idea, as it has been out there for some time. This acquisition would be a little more expensive, probably about the same price as Apple's purchase of Beats. GT's factory in Arizona is producing sapphire cover glass, which could be used for both Apple's newest iPhone as well as the rumored iWatch. For about $3 billion or so, Apple would be able to acquire a name in its supply chain, which would seem to give Apple more control over the production of its products.
Apple is being very generous to its shareholders, returning several billion dollars a quarter. The company's tremendous financial flexibility also allows it to make acquisitions to strengthen its ecosystem and help with the future growth of the business. Today, I proposed four names that Apple could acquire to help it grow. Two of the names could probably be had for less than a billion dollars each, which would fit in with most of Apple's recent acquisitions. However, as we saw with the Beats deal, the company is not afraid to make a purchase that requires a few billion dollars, which is why I also detailed two slightly larger names as targets. I believe that these acquisitions would make Apple an even better buy, and I still recommend being long the name ahead of the upcoming iPhone 6 launch. Apple shares have crossed $100, but there still seems like a decent amount of upside ahead.