US Technology major Apple Inc. was trading strong on Nasdaq on Wednesday and crossed $500 mark for first time since January. The stock was under selling pressure and touched 52-week low of $385 as there were concerns about the product pipeline drying up.
Apple has always been into innovating and has launched many groundbreaking products under leadership of Steve Jobs. The late founder of Apple had launched many products, which were embraced by consumers all over the world and the company stock was performing very well as the company registered better profits every coming quarter.
Carl Icahn, Chairman of Icahn Enterprises tweeted yesterday that his company is have large position in Apple Inc. He added that the stock is currently undervalued. He expects the stock to pick up and also had a conversation with Apple CEO Tim Cook.
Apple stock was up by $9.7 at $499.23 after touching intraday high of $504.25. The range of the day remained 493.40 – 504.25.
With the tweet of Carl Icahn releasing information about the holding of their company, the stock has managed to rise during the past three trading sessions. In the past, Icahn has tweeted about Dell Inc. as well.
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