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  • Icahn's Stake in AAPL Now Tops $3 Billion

    On Wednesday, billionaire investor and humanitarian Carl Icahn turned to Twitter to clear up lingering speculation about how much he really has invested in shares of Apple.

    By the billionaire's own admission, his stake in AAPL has never been greater.

    "Since tweeting about our large position in $AAPL on Aug 13, when the stock was 468 per share, we’ve kept buying shares of this ‘no brainer,’" Icahn tweeted one hour ago. "Having purchased $500 million more $AAPL shares in the last two weeks, our investment has crossed the $3 billion mark yesterday," he added.

    With ample attention directed his way by media outlets in response to his admission, Icahn resumed his familiar talking points. "We feel $APPL board is doing great disservice to shareholders by not having markedly increased its buyback. In-depth letter to follow soon."

    The Cupertino, California-based company already has a share buyback program in place, in which the company plans to spend $100 billion in the next few years on it as well as an increased dividend. Icahn believes that Apple should spend more of its considerable cash and reserves on its own stock, particularly at its current price.

    As soon as Icahn's "in-depth letter" is published, we'll let you know.

    Source: Carl Icahn's Twitter
    This article was originally published in forum thread: Icahn's Stake in AAPL Now Tops $3 Billion started by Michael Essany View original post
    Comments 1 Comment
    1. subreality's Avatar
      subreality -
      That's 5.5 million shares.