Billionaire investor Carl Icahn just Tweeted his latest investment idea.
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.
— Carl Icahn (@Carl_C_Icahn) August 13, 2013
Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.
— Carl Icahn (@Carl_C_Icahn) August 13, 2013
Bloomberg News reports that Icahn is said to have amassed a position worth more than $1 billion in the technology giant. He's been putting together his Apple position over the last month, according to Bloomberg News.
The stock was last trading up more than 3%.
The 77-year-old investor said that he would be using the social media site to make a major investment announcement.
To date, he has more than 28,000 followers and has only Tweeted twelve times. Last week, he told Fox Business Network's Liz Claman that his daughter Michelle actually Tweets on behalf of him.
The stock moved on his Tweet. Here's a chart of Apple's stock:
