Apple shares skyrocket by 20 points following investment from Carl Icahn
Shares of Apple shot up by more than 22 points on Tuesday following word that billionaire investor Carl Icahn had taken a large position in Apple. At one point during the trading day, shares of Apple reached $494 after starting the day trading at $471.50.
In a tweet sent out by Icahn himself on Tuesday afternoon, the investor said:
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.
One hour later, Icahn tweeted the following:
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.
Interestingly enough, Apple spokesman Steve Dowling provided a statement confirming Icahn's meeting with Cook.
The statement reads, "We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today."
Furthermore, it's being rumored, via Bloomberg's Sarah Frier, that Icahn's stake in Apple checks in at $1 billion.
Icahn is, of course, a controversial figure, most recently due to his attempts to take over Dell.
Lastly, and in what is likely a reflection of Icahn's business determination, and admittedly somewhat amusing as well, Icahn's Twitter tagline reads in part: "Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity."
With an estimated net worth that exceeds $20 billion, he clearly walks the walk.
