Carl Icahn Has Invested in Apple
Investor Carl Icahn announced Tuesday on Twitter that he had made a large investment in Apple, calling the stock "undervalued."
Billionaire Carl Icahn took a "large" position in Apple shares. He believes "Apple has the ability to do a $150 billion buyback now by borrowing funds at 3 percent.
Icahn also said he is requesting that Apple Chief Executive Tim Cook and company officials pursue a bigger buyback of its stock to help raise the value. Earlier this year, under investor pressure, Apple decided to increase the size of a dividend-and-buyback program to $100 billion, including $60 billion to repurchase stock through 2015.
Earlier on Tuesday, Icahn sent a tweet, saying: "We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come."
He also tweeted: "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."
The investor has become increasingly active in the tech sector in recent years.
Icahn also said he is requesting that Apple Chief Executive Tim Cook and company officials pursue a bigger buyback of its stock to help raise the value. Earlier this year, under investor pressure, Apple decided to increase the size of a dividend-and-buyback program to $100 billion, including $60 billion to repurchase stock through 2015.
Earlier on Tuesday, Icahn sent a tweet, saying: "We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come."
He also tweeted: "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."
The investor has become increasingly active in the tech sector in recent years.
