Billionaire investor Carl Icahn took a large position in Apple, prompting the stock to shot up by more than 22 points. At one point during the trading day, shares of the Cupertino-based giant reached $494 after starting the day at $471.50!
Icahn tweeted his excitement about the investment, adding that the company is “extremely undervalued.” One hour later, he returned with another tweet:
Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.
Apple too had a statement on this:
We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today.
According to Bloomberg’s Sarah Frier, Icahn’s stake in Apple checks in at $1 billion. He seems to know something we don’t. Like how the iWatch or the next iPhone will look like. And yes, I’m sure we’ll be hearing more about Carl Icahn and his investment in Apple. Stay tuned…