Apple stock has taken a nose-dive since closing at above $700 almost a year ago, but shares saw a nice lift today on some tweets of investor sentiment.
Billionaire investor Carl Icahn tweeted earlier today that he believed the Cupertino, Calif.-based company is “extremely undervalued,” citing a conversation he had with Apple CEO Tim Cook.
Icahn’s bullishness is based partly on the idea of a “larger buyback.” But it’s worth noting that Apple already has a program to return $100 billion to shareholders by the end of 2015.
The pair of tweets led to an immediate spike, eventually pushing the stock, which opened at $470.94 north of $493, as of this writing.
The Twitterverse quickly took note of the impact of Icahn’s words. Miguel Rios, who manages analytics for Twitter, tweeted the following image:
Anthony De Rosa, editor-in-chief of Circa and former social media editor at Reuters, noted the formula for this jump:
Icahn’s statement comes as a stark contrast to Oracle CEO Larry Ellison’s assessment of Apple earlier today. In an interview broadcast on CBS This Morning, the third richest man in America questioned the brightness of Apple’s future without Steve Jobs.
[Image: Flickr user Abrackin]