Carl Icahn IEP took to Twitter today to disclose a new position in Apple AAPL. He said that he spoke to CEO Tim Cook today and that there is more to come on the story.
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.
— Carl Icahn (@Carl_C_Icahn) August 13, 2013
Twitter As An Outlet
Yesterday, Icahn Enterprises disclosed that Mr. Icahn's twitter will be an official outlet for non-public material information. This is the first such news release. The move raised suspicions that Icahn's next pick was coming soon.
Shares Higher
Apple shares spiked higher on the news to extend the day's gains to over 3 percent. Shares traded as high as $484.65 before settling around $480 per share.
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