Word surfaced last night that Apple could be considering a buyout of ARM -- a rumor that spiked the chipmaker's share price to an eight-year high. The buzz is at least partially spurred by Apple's recent record-breaking quarterly financial results. Cupertino has $41.7 billion stashed away, and with ARM's value at around $8 billion, an acquisition would deplete some 20% of the company's reserves.

While there has been no official confirmation or denial, ARM CEO Warren East all but dismissed the move, saying it wouldn't be wise from an economic standpoint. Though excited to see share prices soar, East noted that his company's standard business model is an excellent way for others to access ARM's technology for a fraction of the cost. "Nobody has to buy the company," said East.

Money aside, many have questioned the legality of such a deal, considering the number of Apple's competitors (LG, Nokia, Samsung, and others) that use ARM's technology.