Execs at tech giant Apple are currently not interested in swooping in to top AT&T's $85 billion offer for Time Warner, CNBC reported.

"They are sort of not interested (in buying Time Warner) at this time," CNBC's David Faber said on "Squawk on the Street" Wednesday, citing anonymous sources familiar with Apple's thinking.

Apple honchos had met informally late last year with Time Warner brass, and the notion of a merger was floated.

Last week Apple CEO Tim Cook rekindled speculation that it might make a play for Time Warner after he told analysts on the company's quarterly earnings call that Apple is "open to acquisitions of any size" if there's a strategic fit.

"We look at a whole variety of companies, and based on that we choose whether to move forward or not," Cook said. "But we're definitely open, and we definitely look."

For now, it appears that AT&T will be the lone bidder for Time Warner, with a host of regulatory hurdles to clear before the deal is done. The telco has said it expects to close the transaction by the end of 2017.