“This is a no-brainer to go buy stock in a company that can go borrow. Buy the company here and even without earnings growth, we think it ought to be worth $625” –This is an extract from the from billionaire investor Carl Icahn that he had taken a “large position” in Apple and discussed a larger buyback with Apple CEO Tim Cook, Apple’s stock experienced a new six-month high of over $488 per share!
The good news is that Apple continues to climb and has passed the $500 mark for the first time in nearly eight months since January 23rd. Rendering Apple’s recent response, the company “the interest and investment of all our shareholders” and that “Tim had a very positive conversation with Mr. Icahn today.”
It has been speculated that even larger buyback proposed by Icahn could increase the AAPL stock value even further.
According to analysts, this investment serves as an acknowledgment that better things could be coming from Apple over the next six months, which should help raise the company’s stock.” Moreover, the launch of new products this fall, especially the rumored iPhone 5S and iPhone 5C, will be potentially helping Apple lead even upper!