Apple Denies Report That It's Interested in Buying TikTok
Apple (AAPL) - Get Report denied that it is in the running to purchase the U.S. operations of popular Chinese-owned social media platform TikTok after Axios reported that the tech giant was interested in buying it. While Microsoft (MSFT) - Get Report has confirmed that it is negotiating with ByteDance, the Chinese conglomerate that owns TikTok, to purchase the platform's U.S., Canada, Australia and New Zealand operations, Apple responded to the report by saying that there are no negotiations and it is not interested. Apple has about $193 billion in cash on hand and last month strong second-quarter results helped the tech company overtake oil driller Saudi Aramco as the world's most valuable publicly listed company. Axios reported earlier that multiple sources outside of Apple said that the tech giant has expressed interest in buying TikTok. Meanwhile, TikTok has been a lightning rod for scrutiny after President Trump told reporters that he would...