Apple considered investing in Twitter, in a deal that would have valued Twitter at around $10bn (£6.4bn) and it would also have signalled the technology giant’s eventual intention to take on Facebook.
The investment would also have shown that Apple boss Tim Cook, left, was keen to step out of the shadow of his predecessor, Steve Jobs, who died last year.
However, though talks have taken place in recent months, no negotiations are currently taking place, according to reports.
Although, Apple has highly been successful in selling its product yet it has low social network, an important activity on Web and mobile devices as it aims to influence the people how to invest their money. Thus, this becomes a consideration for Apple too.
Apple relationship with Facebook had fallen apart, while Google is promoting its own network, Google+.
Apple doesn’t have any social network, but it recently integrated Twitters features into its own software.
Twitter has 140 million users, but has struggled to commercialise the business. Facebook has more successfully brought in advertising revenue, though its stock has slumped by more than one-third since its $100bn stock market debut in May and last week it announced slowed revenue growth.
On Friday, Apple announced that it was going to buy Authen Tec, which develops sensors to read fingerprints, for $356m.
That technology would be used to improve security on Apple’s array of popular smartphones and tablet computers.
Earlier in the week, Apple also revealed that its growth had suffered in the latest quarter.