Apple breaks $500 threshold, first time since Jan.

Aug 14, 2013 by The Associated Press

Apple Inc.'s shares surged passed the $500 threshold—their highest level since January.

Wednesday's gains came a day after activist investor Carl Icahn said he thinks the iPhone maker should do more to revive its stock price.

The outspoken billionaire said in Twitter posts Tuesday that he had acquired an unspecified stake in Apple and had spoken to its CEO about boosting plans. The stock immediately jumped, and closed at its highest level in nearly seven months.

Apple is committed to buying back $60 million in stock by the end of 2015. Icahn believes that program should be immediately increased.

The company's stock peaked last year at $705.07 but began losing ground on concerns about slowing growth and growing competition.

Shares added $13.83 to $503.40 at midday.

Explore further: Icahn sets sights on Apple, talks to CEO Tim Cook

1 /5 (3 votes)
add to favorites email to friend print save as pdf

Related Stories

Apple stock hits latest 52-week low

Mar 04, 2013

Shares of Apple hit their lowest level in more than a year on Monday, continuing a decline hastened by the company's last quarterly earnings report.

Recommended for you

Ex-Apple chief plans mobile phone for India

5 hours ago

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

18 hours ago

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Ex-Apple chief plans mobile phone for India

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

Health care site flagged in Heartbleed review

People with accounts on the enrollment website for President Barack Obama's signature health care law are being told to change their passwords following an administration-wide review of the government's vulnerability to the ...

A homemade solar lamp for developing countries

(Phys.org) —The solar lamp developed by the start-up LEDsafari is a more effective, safer, and less expensive form of illumination than the traditional oil lamp currently used by more than one billion people ...

NASA's space station Robonaut finally getting legs

Robonaut, the first out-of-this-world humanoid, is finally getting its space legs. For three years, Robonaut has had to manage from the waist up. This new pair of legs means the experimental robot—now stuck ...

Filipino tests negative for Middle East virus

A Filipino nurse who tested positive for the Middle East virus has been found free of infection in a subsequent examination after he returned home, Philippine health officials said Saturday.

Egypt archaeologists find ancient writer's tomb

Egypt's minister of antiquities says a team of Spanish archaeologists has discovered two tombs in the southern part of the country, one of them belonging to a writer and containing a trove of artifacts including reed pens ...