AAPL shares rose 5.6% in value today after word came out that billionaire investor Carl Icahn thinks the company is ‘extremely undervalued.’ The stock was trading above $493 a share after 3PM ET today — a nice $26 jump up from the stock’s closing price on Monday.
Icahn revealed on Twitter that he spoke briefly with Tim Cook today about the company’s future and that he’s decided to make a large position with Apple:
We imagine Tim Cook dropped Icahn a few hints as to what to expect at the Apple event on September 10th, which convinced Carl that Apple’s not done innovating quite yet. Apple even released a statement to AllThingsD gushing about the meeting between Cook and Icahn:
We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today.
How much Icahn has actually invested into AAPL wasn’t officially disclosed, but Sarah Frier at Bloomberg reports that it’s said to be more than $1 billion, with Icahn projecting shares to rise above $600.