Merrill Lynch analyst Steven Milunovich speculates that Apple and Sony could soon form a partnership to produce new joint products. In a research note to clients Tuesday, Milunovich said he found it “intriguing” that Sony president Kunitake Ando was on stage at Macworld with Apple CEO Steve Jobs. “Why did Steve Jobs say that Apple and Sony could possibly work together on computers and music? We think Apple could introduce products based on the IBM/Sony/Toshiba Cell processor,” Milunovich wrote. “We speculate that an Apple/Sony partnership could take the following forms: (1) an iTunes-like iMovies Store online using the H.264 codec and streaming Sony and Pixar content, (2) a high-performance Apple workstation using Cell for video editing, and (3) a network-centric TV with computing for handling the next-generation of entertainment feeds.”