Apple rumors: Twitter and Electronic Arts being targeted by the iPod maker

Apple (AAPL) may want to buy Twitter for as much as $700 million, Valleywag is reporting. And CNBC's Fast Money panelist Guy Adami said Apple is "eyeing" Electronic Arts (ERTS).

First, the Twitter story. Gawker's Valleywag says a "source who's plugged into the Valley's deal scene and has been recruited by Apple for a senior position says Apple and Twitter are in serious negotiations, with the goal of unveiling a deal by June 8, when Apple's annual Worldwide Developers Conference launches in San Jose."

If Apple buys Twitter, the story says, it's not about making money, it's about "making a statement."