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Carl Icahn tweets about Apple, sends stock soaring

Posting in Technology

At 2:21pm ET on Tuesday afternoon, legendary investor Carl Icahn published the following tweet:

Apple's stock value proceeded to skyrocket during the rest of the afternoon. Following the 77-year-old's message, Apple's market capitalization added more than $17.26 billion. With 908.5 million shares outstanding, shares were up to $494 from $475 each earlier in the day. The chart below shows the jump in the company's valuation following the message. In a second Twitter message, Icahn argued for an Apple buyback.

With two simple tweets, Icahn inserted himself into the ongoing debate about Apple's future, refuting the naysayers who argue the tech giant's best days are behind it. Apple's shares have lost about a quarter of their value in the last year, due largely to the absence of a groundbreaking new product to generate buzz.

Icahn has a reputation for pushing companies to shift strategies, and his success as an investor has made him the world's 26th richest man with a $20 billion fortune.

Photo: Apple

via [Business Insider, Forbes]

— By on August 13, 2013, 8:00 PM PST

Channtal Fleischfresser

Contributing Editor

Contributing Editor Channtal Fleischfresser has worked for The Economist, WNET/Channel 13, Al Jazeera English, Wall Street Journal and Associated Press. She holds degrees from the University of Pennsylvania and the Columbia University Graduate School of Journalism. She is based in New York. Follow her on Twitter. Disclosure