Wall Street is chattering loudly after RBC Capital Markets sent a note to clients Thursday discussing the possibility of a takeover of Disney by Apple.

“We have seen increased discussions among investors regarding ‘How could AAPL gain scale in media/content and what could it do with potential cash repatriation?” Amit Daryanani wrote in the note, according to CNBC.

RBC admits that the deal remains unlikely, but says it makes strategic sense.

“We see a confluence of events that make an acquisition of DIS a ‘greater than 0 percent’ probability event (while odds are low),” Daryanani writes. “AAPL’s focus on services and its inability (so far) to replicate its music/iTunes strategy into content/media make acquiring DIS logical in our view.”

“Daryanani cited Apple CEO Tim Cook’s comments that ‘deal size isn’t a negating factor’ for its future mergers and acquisitions,” CNBC reports. “In addition, the analyst noted the Republican tax repatriation holiday proposals, where corporations can bring home overseas earnings at a lower tax rate. If this tax reform becomes law, the iPhone maker will have access to its more than $200 billion held abroad for acquisitions, he said.”

Variety notes that such a takeover would create a company worth $1 trillion, which RBC’s analysis says would have “almost limitless opportunities in content and technology.”