August 13, 2013 |
Investor Carl Icahn announced Tuesday on Twitter that he had made a large investment in Apple Inc., calling the stock "undervalued. " The influential investor has become increasingly active in the tech sector in recent years. News that he has taken a stake in Apple predictably sent the stock soaring up $26.29, or 5.63%, to $ 493.65 in midday trading. PHOTOS: Six things rich tech execs splurge on Apple investors, who have endured a rough year as they watched the stock tumble from its all-time high last September, could barely contain their glee . For the moment, Icahn said he is requesting that Apple Chief Executive Tim Cook and company officials pursue a bigger buyback of its stock to help raise the value.