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Billionaire Investor Carl Icahn Sets Eye on Apple

The latest apple of Carl Icahn's eye is Apple.

The billionaire investor took to Twitter on Tuesday to tease his latest target, Apple, which he said was "extremely undervalued." He also disclosed he had taken a "large position" in the company, which soared on the news.

Icahn said he spoke with Apple CEO Tim Cook about the company launching a larger buyback of its shares. Apple, in a statement, acknowledged the two had spoken, calling the conversation "very positive."

Apple has been under fire to return more cash to its shareholders. In April, the company said it that, through a combination of buybacks and dividend payments, it would give $100 billion to shareholders by the end of 2015.

Related: Apple Expected to Reveal New iPhone September 10

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