Activist investor says he's got a "large position" in the company and spoke with CEO Tim Cook on Tuesday, pitching a larger share buyback. August 13, 2013 12:13 PM PDT Carl Icahn. Activist investor Carl Icahn has an eye on Apple. Icahn took to Twitter on Tuesday, where he had so far only sent out 10 tweets since June, to note that his investment group had a "large position in Apple," and that he believed the company to be "extremely undervalued." Icahn also noted that he had a "nice conversation" with Apple CEO Tim Cook, where he made the case the company should do a larger repurchasing of shares, beyond its current plan. That plan, which is scheduled to run through the end of 2015, involves the repurchasing of $60 billion in Apple shares. So far there's no indication of just how much of a position Icahn actually has with the company, but it was enough to send shares of Apple up by $20.93 to $488.29 or about 4 and a half percent in intra-day trading. In a statement given to AllThingsD, Apple said it appreciated "the interest and investment of all our shareholders," and that "Tim (Cook) had a very positive conversation with Mr. Icahn today." Icahn's investment is notable given a history of getting involved with the companies he takes interest in. That includes waging proxy fights, or threatening to do so with companies like Yahoo, Motorola, Time Warner, Blockbuster, ImClone Systems, and nearly Netflix. More recently that list has included Dell, where Icahn has filed a lawsuit against the company and its board to keep Dell from going private.
Activist investor says he's got a "large position" in the company and spoke with CEO Tim Cook on Tuesday, pitching a larger share buyback.
Carl Icahn.
Activist investor Carl Icahn has an eye on Apple.
Icahn took to Twitter on Tuesday, where he had so far only sent out 10 tweets since June, to note that his investment group had a "large position in Apple," and that he believed the company to be "extremely undervalued."
Icahn also noted that he had a "nice conversation" with Apple CEO Tim Cook, where he made the case the company should do a larger repurchasing of shares, beyond its current plan. That plan, which is scheduled to run through the end of 2015, involves the repurchasing of $60 billion in Apple shares.
So far there's no indication of just how much of a position Icahn actually has with the company, but it was enough to send shares of Apple up by $20.93 to $488.29 or about 4 and a half percent in intra-day trading.
In a statement given to AllThingsD, Apple said it appreciated "the interest and investment of all our shareholders," and that "Tim (Cook) had a very positive conversation with Mr. Icahn today."
Icahn's investment is notable given a history of getting involved with the companies he takes interest in. That includes waging proxy fights, or threatening to do so with companies like Yahoo, Motorola, Time Warner, Blockbuster, ImClone Systems, and nearly Netflix. More recently that list has included Dell, where Icahn has filed a lawsuit against the company and its board to keep Dell from going private.
