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Activist investor Carl Icahn buys more than $1 billion in Apple stock

Icahn Apple Stake

Activist investor Carl Icahn on Tuesday announced on Twitter that his firm holds a large stake in Apple. “We currently have a large position in Apple. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come,” Icahn posted on his Twitter account, adding that he believes Apple should buy back more shares than it is currently planning to repurchase. Following the news, Bloomberg reports that Icahn’s stake in Apple is worth more than $1 billion and he has built his position over the last month alone. According to Bloomberg, Icahn sees Apple shares climbing back into the $600 range. Apple’s stock climbed more than 4% following Icahn’s post on Twitter.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.