Breaking Finance News

BREAKING- Carl Icahn Has Large Position In Apple (AAPL)

UPDATE: BGC Alanyst Collin Gillis says that because much of Apple’s cash is overseas, it cannot be immediately used for a buyback.

UPDATE: Apple spokesperson says, “We Appreciate the Interest and Investment [from Carl Icahn.]” The company also confirmed that Tim Cook had a very positive conversation with Icahn.

According to a twitter post by billionaire Carl Icahn, he has a large position in Apple. He believes that the stock is extremely undervalued, according to the tweets. The stock is up more than 3 percent on the news.

Icahn is best known for his recent battle with Dell (NASDAQ: DELL) as he tries to keep the company from going private. He has also been locked in a battle with Bill Ackman over Herbalife (NYSE: HLF) as he believes that the stock has further upside. Yesterday, Icahn Enterprises (NYSE: IEP) announced that it would start using Twitter to share material information.

Disclosure: At the time of this writing, the author was long Apple.

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