Tech

Activist Investor Carl Icahn Tweets ‘Large Stake’ in Apple; Stocks Soar

Activist investor Carl Icahn tweeted today that his team had made a large investment in Apple. The billionaire didn’t disclose how much he has at stake in the firm but further explained he feels Apple is “extremely undervalued“.

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Once the news broke, Bloomberg reported that Icahn’s stake was $1 billion, accumulated after one month. The anonymous source refused to acknowledge more details since this discussion was intended as private. The investor also projected that Apple’s stock could soar beyond $600 after it traded 4 percent higher.

David-Einhorn-Carl-Icahn-Activist-Investors

Hedge Fund Manager David Einhorn was another investor who attempted obtaining a larger stake in Apple last winter. (Getty)

Icahn’s real target may have been the tremendous cash reserves the computer company has. The investor wants to create a stock buyback program to receive a series of preferred shares to essentially share the wealth. Some are hesitant about his involvement with the company due to his volatile nature.

Apple under Tim Cook’s leadership has come under some scrutiny recently as the board has been pressuring the company to deliver on that promise. Icahn can be pushy, but all eyes are on Apple as it preps for the launch of the iPhone 6 this fall. He could just be what the company needs.

Save The Date? New iPhone (6?) May Be Unveiled September 10

Apple has yet to make an official statement confirming this but a refined version of iOS 7 is expected to be released at the same time too.

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