Apple, the tech juggernaut whose results nonetheless have disappointed Wall Street in two of the last four quarters, may be beginning to sweat.
The maker of iPhones, iPads and Mac computers is weighing a hefty stake in Twitter, a leading social media firm, according to a report last night.
Executives at Apple are not presently in talks with Twitter and buying a stake in the micro-blogging startup is not a sure thing, but it is on the minds of the executives there, according to the report on the New York Times website.
Apple has not been successful in the fast-growing social media niche and a stake in Twitter would fill that key void, the report suggested.
Apple brass are weighing an investment “in the hundreds of millions of dollars,” the report said, which would value Twitter at more than $10 billion.
Tim Cook, CEO of Apple, while not referring specifically to Twitter, did admit at a recent tech conference, the report maintains, that his company did need to make a move into the social media niche — where more and more folks are spending time.
Six-year old Twitter has grown at a fast pace and now boasts more than 500 million users — including 140 million monthly users.
While Apple, with $117 billion in cash on hand, would have no problem affording a Twitter stake — the micro-blogging company doesn’t appear to need the cash and it is not known if it is interested in a hook-up.