iOS 9.3 is coming in the Spring and will introduce Night Shift as well as a number of other new features.
Carl Icahn Discloses 'Large Position' in Apple, Believes Company is 'Extremely Undervalued'
This is similar to the advice that Warren Buffett gave earlier this year, though Buffett did not take a position in Apple.
Icahn disclosed his position on Twitter after yesterday warning investors that he may disclose material information on that account in accordance with new SEC guidelines on social media use.
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come. - 12:21 PM - 13 Aug 13Icahn, who has an estimated net worth of $20 billion, has recently been extensively involved in efforts to keep Dell from going private and he also holds a 16% stake in Nuance, the speech recognition company that Apple uses for Siri.
Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly. - 12:25 PM - 13 Aug 13
Update: According to Bloomberg, Icahn has taken a position of at least $1 billion in Apple and is projecting the stock price to rise to over $600.
Update 2: Apple issued this statement regarding Icahn's investment:
We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today.Update 3: The Wall Street Journal has more from an interview with Mr. Icahn.
"This is a no brainer to go buy stock in a company that can go borrow" at a low rate, Mr. Icahn said. "Buy the company here and even without earnings growth, we think it ought to be worth $625."
Mr. Icahn's thesis rests on Apple borrowing at about a 3% interest rate and buying back shares right now, likely at around $525 a piece. That would send shares to $625, Mr. Icahn says, without taking into account any earnings growth.