Tech giant Apple has conquered the tablet, smartphone and computer market and it isn't stopping there. The world's most valuable tech company is looking into buying a stake in social media website Twitter. Social media is the only thing Apple does not have a hand in at the moment.
Today, social media plays such a big part in the everyday lives of people. It can influence people to purchase new products and check breaking news. Social media has such a wide audience that it may be the right decision for Apple to invest in.
In a report by the New York Times:
"Apple has considered an investment in the hundreds of millions of dollars, one that could value Twitter at more than $10 billion, up from an $8.4 billion valuation last year, these people said. They declined to be named because the discussions were private."
Apple and Twitter are currently not in negotiations and there is no guarantee of their partnership. But it would be a smart move for the two companies to form a partnership, considering the latest developments of Facebook and Google.
Unlike Facebook and Google, Twitter has no plans to compete with Apple in the mobile device industry. Facebook, in partnership with HTC Corp., is planning to launch a smartphone next year and Google has already launched a smartphone and has a social network, Google Plus.
Apple attempted to forge a partnership with Facebook. Facebook and Apple were in talks to feature Facebook on Apple's Ping, but the talks collapsed.
Apple CEO Tim Cook recently said in a conference, "Apple doesn't have to own a social network. But does Apple need to be social? Yes."
If Apple does decide to buy a stake in Twitter, the social media company could be valued at an estimated $10 billion.
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