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.
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.— Carl Icahn (@Carl_C_Icahn) August 13, 2013
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.— Carl Icahn (@Carl_C_Icahn) August 13, 2013