The possibility of Apple Inc. acquiring PayPal Holdings Inc. has resurfaced in financial circles, raising questions about what such a deal would mean for the payments industry, for both companies’ shareholders, and for the broader competitive dynamics of fintech. While neither company has confirmed any active negotiations, the speculation alone has been enough to send analysts and investors scrambling to assess the strategic logic—and the potential pitfalls—of a combination that would create an unrivaled force in consumer finance. According to a report from GuruFocus , Apple is among the potential buyers being discussed in connection with PayPal, a company whose stock has fallen sharply from its pandemic-era highs and now trades at a fraction of its former valuation. PayPal’s market capitalization, which once topped $350 billion in mid-2021, has contracted dramatically, making it a far more digestible acquisition target for a company with Apple’s financial resources.…