Arik Hesseldahl

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Carl Icahn Makes a Large Investment in Apple

icahnShares of Apple are rising by more than four percent on word that Carl Icahn, the billionaire activist investor trying to take over Dell, has made a large investment in the company behind the iPhone and the Mac.

Icahn announced via Twitter that he has taken a “large position” in Apple, and thinks it is “extremely undervalued.” He didn’t disclose how large his position in Apple is, nor what he thinks the company is actually worth. Presumably, that information will come to light in regulatory filings.

Icahn also said he had spoken with Apple CEO Tim Cook today.

Apple confirmed the conversation, issuing the following statement to AllThingsD: “We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today.”

Apple shares quickly rose to above $484 a share just before 3 pm ET, up about $17 from Monday’s closing price. Before today, Apple shares had fallen by more than 12 percent since the start of 2013, and 33 percent since reaching their historic high of $700.09 in 2012.

The move comes a day after Icahn revealed in a filing with the U.S. Securities and Exchange Commission that he “intends to use Twitter from time to time to communicate with the public about our company and other issues.”

Nor is it the first time he has used Twitter to comment on a company in which he holds a stake. Last month, he blasted Dell CEO Michael Dell with a fit of Twitter rhyme.

With reporting by John Paczkowski.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work