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Technology Stocks : Apple Tankwatch
AAPL 255.48-1.1%Jan 16 3:59 PM EST
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To: zax who wrote (27115)9/9/2013 9:26:50 PM
From: puborectalis  Read Replies (1) of 32692
 
Apple's stock has seen upward momentum recently, sparked by hedge fund billionaire Carl Icahn's revelation last month that he had taken a large position in Apple and was pushing for the company to expand its program of share buybacks.

He has said the stock could rise to as much as $700 a share if Chief Executive Tim Cook pushed for a larger stock buyback.

Icahn, who is having dinner with Cook this month, said on Monday on CNBC television that Apple shares are "very undervalued" and buying the stock was a "no-brainer."

"If you look at the numbers, look at the multiples that are going on, look at the great cash flow they have ... you really have a lot of protection on the downside," he said.
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