Further to my post yesterday on rumours of new Apple products for release on 10th Sept 13 (See A tale of two smartphone makers) Apple shares rose nearly 5% today on news that activist Carl Icahn had taken a ‘large stake’ – reputed to be c$1b. He said that Apple was ‘extremely undervalued’ and wanted an enhanced share buyback programme.
Apple is now up 25% since its low of $393 on 27th June 13.