Apple shareholders rejoiced when noted corporate raider Carl Icahn tweeted that he’d taken a large position in the company. Its shares closed at $497.91 on Thursday, down 59 cents from Wednesday’s close. However, that was up 96 cents from Thursday’s opening price. Trading was volatile on Thursday, with prices climbing above $500 at least once. The surge might have been due to Icahn saying that Apple shares were undervalued and that he had discussed the possibility of Apple increasing its share buyback with CEO Tim Cook.
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Icahn Salivates Over Apple’s Cash Trove