Carl Icahn snaps up another $500M of Apple stock

Jan 23, 2014

Outspoken billionaire Carl Icahn has tossed another bushel of Apple stock into his investment portfolio as he tries to persuade the iPhone maker to buy back more of its own shares.

Icahn says he invested another $500 million in Apple Inc. in a series of purchases made Thursday. With the latest shopping spree, Icahn has spent $1 billion on Apple stock during the past weeks to raise his total holdings in the Cupertino, Calif., to $3.6 billion. That represents a stake of less than 1 percent in Apple, which has a of about $500 billion.

Apple's stock has fallen by about 20 percent from its peak reached 16 months ago. Icahn believes Apple's stock will bounce back if the company spends more money buying back its stock.

Explore further: Icahn says he has $3bn in Apple stock (Update)

2.5 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

Icahn says he has $3bn in Apple stock (Update)

Jan 22, 2014

Activist investor Carl Icahn said Wednesday he has invested some $3 billion in Apple, and claimed the tech giant is "doing a disservice to shareholders" by not increasing its share buyback.

Recommended for you

BlackBerry courts iPhone users with cash

5 hours ago

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

6 hours ago

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

Apple market value hits $700 bn

12 hours ago

A rise in Apple shares Tuesday pushed the market value of the trend-setting US tech icon above $700 billion, becoming the first company to hit that milestone.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.