AAPL Stock: 111.79 ( + 0.19 )

Printed from

News of Omega Advisors investment helps push AAPL to nearly $500

updated 03:46 pm EDT, Wed August 14, 2013

Stock still riding partly on Icahn announcement

Apple's stock price rose over the $500 mark during Wednesday trading on news of yet another investment firm taking an interest in the company. Omega Advisors' Lee Cooperman says that he agrees with yesterday's statements by Carl Icahn, and that his firm has adopted a modest stake in Apple. Apple stock has sat under $500 for much of the last year, falling from a height of over $705 and at one point dipping down to just $385.10. It closed on Wednesday at $498.50, a gain of $8.93.

Icahn called Apple "extremely undervalued," and urged CEO Tim Cook to engage in a more aggressive share buyback plan. It's thought that Icahn's Apple investment could be worth over $1 billion, although public figures are only due to be released later this week. It's uncertain if Omega's investment will make it into SEC-mandated disclosures, since the holding has to be worth at least $100 million.

by MacNN Staff




Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented