NEW YORK, Sept 11 Activist investor Carl Icahn
said he bought more shares of Apple Inc. on Wednesday
as the company's stock price slid.
"At these levels, we're buying quite a bit of stock," Icahn
told cable television network CNBC. He added that his investment
firm "bought quite a bit today" as Apple shares traded in a
range of $465-467 per share.
Icahn did not say how many additional shares of Apple he
bought on Wednesday when Apple shares fell 5.4 percent to
$467.71. The drop extended a 2.3 percent decline during the
previous session after the company unveiled new iPhone models.
"Apple is one of my best right now," Icahn told CNBC.
Icahn tweeted on Aug. 13 that his investment firm had
amassed a "large position" in Apple and that the company was
"extremely undervalued." The surprise revelation lifted Apple's
stock almost 5 percent higher that day to close at a seven-month
high of $489.57 on the Nasdaq.
Icahn told Reuters on Aug. 13 that he believed Apple could
trade at $700 a share if Chief Executive Tim Cook pushed for a
larger stock buyback. He reiterated on Wednesday that a "big
buyback" would be a "major plus" for the company.
Icahn also said his investment firm is up 30 percent so far
Several weeks ago, when Icahn disclosed he had taken a large
position in Apple, a source familiar with the situation said the
stake was valued at about $1 billion.