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NewsPoster Aug 14, 2013 03:49 PM
News of Omega Advisors investment helps push AAPL to nearly $500
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 <A href="http://www.electronista.com/articles/13/08/13/calls.company.extremely.undervalued/">yesterday's statements by Carl Icahn</a>, and that his firm has <a href="http://macnn.com/rd/291865==http://www.cnbc.com/id/100962731" rel='nofollow'>adopted</a> 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.<br />
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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 <a href="http://macnn.com/rd/291862==http://www.macnn.com/articles/13/08/14/holdings.said.to.be.recent.worth.over.1.billion/" rel='nofollow'>could be worth over $1 billion</a>, 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.
 
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