Carl Icahn: "I'm Actually Better Off With (Apple) Doing Nothing"

Activist investor, Carl Icahn, in a CNBC interview Wednesday said that in some ways he was better off if Apple AAPL chose not to take his advice and increase its stock buyback.

"As far as I'm concerned,” Icahn said, “I'm actually better off with them doing nothing. I intend to buy (more) stock."

Icahn tweeted Wednesday that he had bought another $500 million worth of Apple shares, bringing his total investment to more than $3 billion.

The Icahn Enterprises IEP chair has repeatedly urged Apple to return more profits to shareholders. So far, the board has resisted following Icahn’s advice.

Icahn added, "The point is that you don't have to be genius in technology to understand that Apple is selling at a 2014 consensus of 9 times earnings, and amazingly the S&P is selling at 17 times earnings and Apple is really growing."

Although Icahn probably holds less than one percent of Apple’s outstanding shares, the billionaire investor has done well. Apple’s stock was up 17 percent since Icahn first announced a significant stake August 13.

Currently Apple is in the middle a $60 billion share repurchase and said it had already returned $43 billion in dividends and repurchases under its capital return program, according to Reuters.

In resisting adding to its buyback program, the company said it needed to hang on to cash to help it compete against both Samsung SSNLF and Amazon AMZN in smartphones and other devices.

Meanwhile, Icahn teased CNBC viewers Wednesday saying he planned to reveal another major stake in a new company – sometime over the next few weeks. Icahn said the “reveal” would likely be via Twitter TWTR.

At the time of this writing, Jim Probasco had no position in any mentioned securities.