Apple stock rises after Icahn tweet

Apple stock rises after Icahn tweet

Apple stock rises after Icahn tweet

Icahn, through two tweets revealed that he has a large stake in Apple and stated his opinion that the company is “undervalued”.

He also said he spoke with the head of the company, Tim Cook, who raised his idea that Apple should launch a major program to purchase treasury shares.

These messages made Apple shares rise around 1.6%, and then in the final hours of the session the stock closed at about $489.57 per share.

Apple shares exceed $700 in September last year, but since then they began a gradual decline until late June, when they were below $400, but they have been recovering gradually in the last six weeks.

The company announced in late April that it will allocate 1 billion USD between now and the end of 2015 to pay dividends to shareholders and, above all, buy back their own assets, allowing them to reduce the number of titles available and thus, push up the share price.

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