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:
Over the last couple of weeks a ‘silly sideshow’ has been playing out between Greenlight Capital and Apple Inc. Greenlight Capital’s CEO, David Einhorn, has been trying to force Apple to offer preferred stock plans by suing Apple in court, while Tim Cook and Apple disagree with his proposals.
Even though Einhorn has won at least one small victory over Apple in court, it’s been reported that Greenlight Capital just dropped their lawsuit against Apple.
Even though the news that Apple fired Scott Forstall and John Browett was released on Monday, investors didn’t have an opportunity to react to the new changes in management thanks the the stock markets being closed due to hurricane Sandy.
The markets opened today for the first time all week and investors showed that they’re not feeling incredibly optimistic about Apple right now. Apple’s stock price dropped about 2.4% and was trading at $589.60 this morning, which is the lowest price the stock has seen since July.
AAPL may be doing well, but it's no Coke, says Buffet.
Third wealthiest man in the world, Warren Buffett, known for his tremendous investment success as well as his high-end philanthropy, told a group of investors at the Berkshire annual meeting that he had no interest in investing in Apple (or Google), seeing them as risky investments.