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News of Omega Advisors investment helps push AAPL back over $500 | MacNN

updated 03:46 pm EDT, Wed August 14, 2013

Stock still riding partly on Icahn announcement

Apple’s stock price has risen over the $500 mark in 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.

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.

by MacNN Staff

via News of Omega Advisors investment helps push AAPL back over $500 | MacNN.

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Born in 1964, business owner, from Woodbridge, VA, owns ExcitingAds! Inc. (http://www.excitingads.com) and blog (https://search.excitingads.com). He was born in Mirpurkhas, Sind, Pakistan. His elementary school was ST. Michael's Convent High School, Mirpurkhas, Sind, Pakistan. Graduated high school from ST. Bonaventure's Convent High School, Hyderabad, Sind, Pakistan. His pre-med college was S. A. L. Govt. College, Mirpurkas, Sind, Pakistan. Graduated from Liaquat University of Medical and Health Sciences, Jamshoro, Sind, Pakistan in 1990. Earned equivalency certification from Educational Commission for Foreign Medical Graduates, Philadelphia, PA in 1994.

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