Billionaire Investor Carl Icahn Sets Eye on Apple
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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