I concur :-) Apple will be more likely to buy a company that will reduce a hop on their supply chain; in that sense, a GPU maker makes sense.
But it is funny to speculate as a laymen - I mean what if Google bought AMD instead? That would give them a crazy position to experiment with hardware and keep a check on Apple - after all, Google means serious business with the Nexus one and the mythical tablet. And we all know Google likes to experiment with 3D stuff in browsers and such. Again, I am just blithering- with Google's purchase of AMD (+ATI), they might just have crazy nice open-source 3D tools, maybe even a cloud platform for map-reduce rendering work (take that Pixar - yet another Steve Jobs production).
But on the other hand, Microsoft is the one who could benefit the most from buying AMD. For one thing, MSFT gets ATI for Xbox 360, a platform that MSFT has well executed. And now, Microsoft even make their own chips from win 7 mobile phones to consoles. To really keep Apple's market cap away from them, MSFT panics and makes their own hardware and opens up retail stores :-P
