Bullish activist-investor Carl Icahn is back again! In a tweet sent earlier today, Icahn noted that he plans to send Tim Cook an open letter tomorrow. The contents of this letter are unknown, but Icahn promises it will be “interesting,” to say the least.
In another tweet Icahn gives himself (who else?) credit for helping raise Apple’s share price by more than 50%. Apple shares traded up above 1.7% following the message.
Tmrw we’ll be sending an open letter to @tim_cook. Believe it will be interesting.
— Carl Icahn (@Carl_C_Icahn) October 8, 2014
Just over 1yr ago we tweeted our large position in $AAPL & belief the company extremely undervalued. Since then, stock is up 50.6%
— Carl Icahn (@Carl_C_Icahn) October 8, 2014
As of earlier this year, Icahn owned a massive $4.4 billion stake in Apple, giving him more theoretical leverage than practically any other investor. Well known for trying to take on an active role helping dictate the direction of the companies he invests in, last year he rallied Apple shareholders to demand a stock buyback.
While Icahn eventually backed down after influential proxy adviser ISS’s call against the proposal, there was little doubting he’d make his presence felt again at some point.
Based on the positive nature of his tweets earlier today, Icahn’s open letter to Cook sounds as though it will fall under the heading of endorsing the company’s current direction. How “interesting” would that be, though? Tim Cook may want to make sure his dinner diary isn’t fully-booked, just in case.
Via: Barron’s
