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BUSINESS
August 13, 2013 | By Chris O'Brien
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.
BUSINESS
December 4, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn said Wednesday he had informed Apple that he has submitted a proposal to let shareholders vote on a larger stock buyback. In a tweet Wednesday, Icahn wrote: "Gave $AAPL notice we'll be making a precatory proposal to call for vote to increase buyback program, although not at $150 billion level. " A "precatory" proposal is one that is considered an advisory measure, but not necessarily legally binding. Apple's annual shareholder meeting typically takes place in February.  Icahn revealed his large stake in Apple this summer and said he would begin pressing the company to increase the size of the stock buyback.
BUSINESS
October 1, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn broke bread with Apple Chief Executive Tim Cook on Monday to make his case that the company's record stock buyback program was still not enough. Icahn revealed in August that he had purchased about $1 billion worth of Apple's shares. Earlier this year, Apple announced that it had increased its dividend and stock buyback program to more than $100 billion, including $60 billion to buy back shares of the company's stock. Icahn said in his tweet Tuesday that he wants to see the buyback portion increased even further:    Had a cordial dinner with Tim last night.
BUSINESS
January 28, 2014 | By Chris O'Brien
With Apple's stock falling more than 8% at one point on Tuesday, activist investor Carly Icahn swooped in and bought another $500 million worth of shares.  "Just bought $500 mln more $AAPL shares," Icahn tweeted. "My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race. " By mid-day trading, Apple's stock had recovered a bit to $ 509.63, a drop of $ 40.87, or  7.42%. Still, the tumble largely mirrors the reaction in after-hours trading Monday after an earnings report from Apple that showed the company sold fewer iPhones than expected during the holiday quarter.  PHOTOS: 10 ways to use the sharing economy In addition, the company said its revenue for the current quarter ending in March would be between $42 million and $44 million.
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