Carl Icahn Makes A Large Investment In Apple

Billionaire and activist investor Carl Icahn has revealed that he now has a “large stake” in Apple (AAPL).  In addition, he wrote on Twitter that he had a discussion with Tim Cook earlier today about the possibility of a larger buyback.

Shares of Apple are rising by more than five percent since word that Carl Icahn had made a large investment in the company hit Twitter. While he didn’t disclose how large his position in Apple is, nor what he thinks the company is actually worth, I would expect that information will likely come to light in regulatory filings [See update below].

Shares of AAPL are currently above $490 and still rising.

We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.

— Carl Icahn (@Carl_C_Icahn) August 13, 2013

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.

— Carl Icahn (@Carl_C_Icahn) August 13, 2013

Clearly, Icahn is happier with Tim Cook than Michael Dell.

Update: According to a tweet by CNBC, Icahn’s investment in Apple is over $1 billion.