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You are here: MacNN Forums > News > Tech News > News of Omega Advisors investment helps push AAPL to nearly $500

News of Omega Advisors investment helps push AAPL to nearly $500
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Aug 14, 2013, 03:49 PM
 
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.
( Last edited by NewsPoster; Aug 15, 2013 at 12:25 AM. )
     
   
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