Investment intent: Apple considering investment in Twitter

NEW YORK: Computer and smartphone maker Apple has been discussing with social media company Twitter the possibility of making a significant investment in it, The New York Times reported. Citing unnamed “people briefed on the matter,” the newspaper said Apple was considering investing into Twitter hundreds of millions of dollars, which could increase Twitter’s valuation from $8.4 billion to more than $10 billion. Apple has already incorporated Twitter features into its software for phones, tablets and computers, it said. Apple’s share of the US smartphone market was expected to inch up 1% to 31% this year, while the share for handsets powered by Google-backed Android software was expected to hit 41%, according to eMarketer. On Tuesday, the company reported a rise in its quarterly profit to $8.8 billion on hot iPad sales but the results came up short of lofty Wall Street expectations, prompting its shares to dive.

Published in The Express Tribune, July 29^th, 2012.