Apple to buy a share on Twitter Inc.

Tech giant Apple and social networking star Twitter recently held talks in an attempt to have Apple make a strategic investment in the messaging firm. No deal could be worked out and there are no talks currently going on between the two. The story originated in the New York Times which said that Apple's lack of a toehold in the social networking scene led to the talks. Apple firm sees the importance of social networking and wants to be involved.

Apple was said to be considering an investment totaling in the hundreds of millions of dollars, which would have valued Twitter at $10 billion. In the most recent round of financing, the messaging firm was valued at $8.4 billion. All of this information came from sources wishing to be anonymous which is expected considering the privacy of the talks.

"Those guys (Apple) are a great partner. We think of them as a company that our company looks up to" - Dick Costolo, Twitter CEO

"Apple doesn't have to own a social network But does Apple need to be social? Yes." - Tim Cook, Apple CEO

Source NYT