CORPORATE RAIDER Carl Icahn has expressed an interest in Apple on Twitter, and revealed that he has invested in it.
Icahn is the billionaire investor that presented himself as a thorn in the side of Michael Dell and his plans to take his eponymous firm private.
Now Icahn has said he spoke to Apple CEO Tim Cook about increasing an already large investment in the gadget designer.
"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," he tweeted.
"We currently have a large position in Apple. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come."
We struggle to consider Apple undervalued. As far as we know its net worth is high and so is its share price. But we certainly can understand that a large investor in any company would like to see it as undervalued and, more importantly, want a lot of other investors to see it as undervalued.
Apple's share price rose to $489.57 following Icahn's revelation, its highest in seven months after an earlier high of $700.
Apple is planning to kick back cash at investors and in February Cook said that the firm was working on ways to share its $137bn cash pile with stockholders.
In an interview with Reuters Icahn said that he was sure that Apple could get it's share price up to that high of $700 again.
"Apple has the ability to do a $150 billion buyback now by borrowing funds at [three] percent," he said. "If Apple does this now and earnings increase at only 10 percent, the stock - even keeping the same multiple currently - should trade at $700 a share."
Apple said, "We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today." µ
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Don't make an ass out of yourself
Xbox One price of Microsoft-owned game stays the same
And let you stuff more crap into every tweet