Famous billionaire investor Carl Icahn took to Twitter this afternoon to announce that he and his new buddy Tim Cook are going to be meeting up for dinner in September to talk about Apple’s stock buyback program.
According to Icahn, Tim believes in doing the buyback, but the two giants are going to talk about the “magnitude” of it later to see just how much cash can be wrung out of AAPL.
Icahn made a lot of noise last week with claims that AAPL stock is extremely undervalued. AAPL shares shot up quickly after Icahn’s tweet last week, but his tweet this afternoon seems to have less of an effect on the stock. AAPL is down -3.83 and trading at 498.53 a share today but NASDAQ has been down part of the day, so maybe we’ll see a jump when things get back to normal.