You're gonna have to be a little more specific than that.

Comparing Disney's stock performance to that of Apple, Amazon, and Google over the past 2 quarters, they're all in a 10% spread of each other. That would tend to indicate that any perceived drop in Disney's stock performance is due more to market trends than an institutional failing. I.E., if Disney is performing poorly its because people don't have money to give them, not because they have a substandard business model.

A sale to / merger with Apple would therefore probably not be well-perceived by shareholders. Indeed, if you suspect that Disney's performance will rise in the near future (be it because of the next wave of Marvel movies, the upcoming success of Avatar 2, or something else), you would effectively be selling to Apple at a loss (versus future gains).