Apple officials have talked with Twitter recently about potentially investing hundreds of millions of dollars in the social media site, The New York Times reports.

Such a move could make Twitter, which was valued at $8.4 billion last year, worth more than $10 billion, several unnamed sources told the paper.

Apple, which has incorporated Twitter into some of its products, has done little in the social media realm. The investment could help the company better understand how social media works and better integrate Twitter into some of its products.

The New York Times reports:

While Apple has been hugely successful in selling phones and tablets, it has little traction in social networking, which has become a major engine of activity on the Web and on mobile devices. Social media are increasingly influencing how people spend their time and money — an important consideration for Apple, which also sells applications, games, music and movies.

The two companies are not in negotiations at the moment, however, and there is no telling when, if ever, such an investment would be made, the paper reports.

Reuters, also citing an unnamed source, reported Saturday that the companies are not currently in negotiations and that it was unclear if they had even talked about a deal in the past.

Spokesmen for both Apple and Twitter declined comment to both the Times and Reuters.