Printed from http://www.electronista.com

Icahn adds another $500 million to holdings in Apple stock

updated 12:39 pm EST, Tue January 28, 2014

Investor's stake surpasses $4 billion

Activist investor Carl Icahn has bought another $500 million in Apple stock, according to an official Twitter post. "Just bought $500 mln more $AAPL shares. My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race," he writes. Just last week he purchased another $500 million; in total, he now has over $4 billion in Apple holdings.

The investment is presumably taking advantage of a slump in Apple shares after the company's first-quarter financial results. Icahn has claimed for months that Apple's stock is significantly undervalued, and has been pushing for an expanded share buyback program on top of the $60 billion the company is already planning to spend. His proposal would see the company spend an extra $50 billion during 2014.

Shareholders are due to vote on the proposal next month at Apple's annual shareholders' meeting. Even if it passes, though, the submitted measure would only be advisory, allowing Apple executives to go their own direction.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. prl99

    Dedicated MacNNer

    Joined: 03-24-09

    Of course he did, right after it tanked so it cost him a lot less.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News