I have not yet seen any evidence that Stay home and watch Disney Movies shirt Apple wants to acquire Disney, but I do see many drawbacks for them if they did. Apple’s investments in media are used to promote its core electronics business (think of Apple’s TV + service). Disney’s core business is in media and entertainment (TV and broadcast networks, movies, theme parks, etc.). If Apple were to take over Disney, they would risk losing the focus they need to stay competitive in their core electronics business. It is this business that made Apple the largest public company in the world by market capitalization.
During his life, Steve Jobs never made a move to merge Apple and Pixar before Pixar merged with Disney. Even Apple and Pixar were very different from each other. And merging with Disney now would likely harm Apple during the Stay home and watch Disney Movies shirt COVID-19 pandemic. Disney is likely to hurt itself more than Apple due to the closure of theaters and theme parks, where much of its revenue (and profits) come from. As people work from home, there will be plenty of people who will still need to buy new Apple devices and services, especially since they need to update Macs and iPads, and sometimes even iPhones.