I (still) Cahn – big investor increases stake in Apple

Macworld Australia Staff
12 September, 2013
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Closing at US$469.25, down US$6.93 or 5.4 percent on Wednesday, Apple’s stock took a notable dip following a lukewarm response to the unveiling of the two new iPhones on Wednesday.

Not everyone, however, is selling.

Billionaire investor Carl Icahn, for instance, has decided to put even more of his money where his mouth is.

Icahn first invested in mid-August, tweeting his satisfaction at the move and claiming that, at the time, Apple was definitely undervalued. His input was believed to be around the US$1.5 billion mark.

Now, Alex Heath for the Cult of Mac reports (via Macdailynews.com) that Icahn has upped his ante and bought “quite a bit” more stock.

Icahn gave an interview to CNBC, in which he said, “It’s just a no-brainer. It’s extremely cheap. I’m just looking at numbers… your return is 18 percent or 5.6 times.” You can see the full interview below.

by Macworld Australia staff

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