Is Apple buying Twitter? Not yet, according to report

Is Apple buying Twitter?

Not yet. Apple isn't even currently in talks to invest in Twitter at the moment -- though the two companies have talked within the past year, according to new reports.

Bloomberg reported Sunday that Apple Inc. is not currently in talks with Twitter Inc. about investing in the operator of the micro-blogger service, quoting two people familiar with the matter.

The New York Times reported earlier this week that Apple and Twitter talked in recent months about Apple -- maker of Mac computers and the popular iPhone smartphones -- investing in Twitter to the tune of hundreds of millions of dollars.

The Bloomberg report backs that up, but suggests that the two companies are not currently talking.

Spokespersons from Apple and Twitter refused to comment on the matter.

Twitter will have revenue of $1 million in 2014, Bloomberg reported, citing its two sources. But Twitter is privately held and does not release sales figures.

Apple, meanwhile, has the world's bestselling tablet in the iPad and the world's bestselling smartphone in the iPhone and it is expected to smash records once again when its new iPhone 5 is released in the fall of 2012.

But Apple has been hoarding a massive amount of cash -- more than $100 billion. Before Apple co-founder and longtime CEO Steve Jobs died in late 2011, he suggested the company was "keeping its powder dry" with so much cash, so that it could make important acquisitions and investments when needed.

Source : clarionledger.com