Activist investor Carl Icahn has just tweeted that his investment firm has acquired an additional $500 million in Apple stock over the past two weeks, pushing his stake to over $3 billion. Calling continued investment in Apple a "no brainer" at current prices, Icahn also continues to believe that Apple needs to significantly increase its stock buyback program. A more in-depth letter from Icahn on the topic will be forthcoming.
Having purchased $500 million more $AAPL shares in the last two weeks, our investment has crossed the $3 billion mark yesterday. — Carl Icahn (@Carl_C_Icahn) January 22, 2014
For its part, Apple management has stated that it is continually evaluating its buyback program and that it plans to announce any changes to the program during the first half of this year.
Update: Icahn appeared on CNBC today to shed more light on his Apple position.
Icahn: Apple is a culture with a great ecosystem; what bothers me a hell of a lot is that billions of dollars is just sitting there. • $AAPL — CNBC Newsroom (@CNBCnow) January 22, 2014
.@Carl_C_Icahn telling @ScottWapnerCNBC: I'm criticizing $AAPL board, not the management. @CNBCFastMoney — Shannan Siemens (@ShannanSiemens) January 22, 2014
Carl Icahn LIVE on @CNBC: "There's no one on Apple's board that is a finance guy." • $AAPL — CNBC Newsroom (@CNBCnow) January 22, 2014
Carl Icahn LIVE on CNBC: I'm actually better off if Apple does nothing. I plan on buying more of Apple's stock. • $AAPL — CNBC (@CNBC) January 22, 2014