Icahn buys Apple as share prices slide

By Marc Castro

Sep 12, 2013 04:49 AM EDT

As Apple's stock slid in the past few says, activist billionaire investor Carl Icahn said he purchased more shares. In an interview with CNBC, he said, "At these levels, we're buying quite bit of stock."

He added that his investment firm as shares for Apple traded between USD465 and USD467 per share. Icahn did not disclose the volume his firm bought when Apple's share values fell 5.4% to USD467.71. The decline extended a 2.3% decline from the previous trading day as the company unveiled their new iPhone models.

In the interview, Icahn added, "Apple is one of my best right now."

Last August 13, Icahn tweeted that his investment firm had accumulated a 'large position' in Apple as the company was to his words 'extremely undervalued'. The said revelation caused Apple's stock to jump nearly 5% higher that day to close at USD489.57, a seven month high at the Nasdaq.

In another interview, Icahn told Reuters last August 13 that Apple could reach the USD700 level per share if CEO Tim Cook opted for a larger share buyback. He reiterated the same message during the CNBC interview, as 'a big buyback would be a major plus' for the technology company.

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