Apple 2.0

Covering the business that Steve Jobs built

Apple: The Carl Icahn effect

August 13, 2013: 3:13 PM ET

Two tweets, 3 minutes, $9 per share.

Screen Shot 2013-08-13 at 4.16.25 PMFORTUNE -- If there were such a thing as a empty Over-the-Counter calories, this is what they would look like.

At 2:21 p.m. Tuesday someone using the Twitter account @Carl_C_Icahn -- presumably the corporate raider/hedge fund manager himself -- issued the first of a pair of tweets:

Screen Shot 2013-08-13 at 2.47.11 PM

That was followed four minutes later by this:

Screen Shot 2013-08-13 at 2.49.18 PM

Apple's (AAPL) shares, which had been trading at $475.77, did what stocks do when Icahn buys them. They went vertical, gaining nearly $9 in less than 3 minutes. By 3:35 p.m. they had touched $494.66.

For those keeping track, that's a gain in market value of $17 billion in just over an hour.

In a statement to Fortune, an Apple spokesman confirmed that Icahn had been in touch.

"We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today."

How many shares Icahn purchased, and what he plans to do with them -- besides watch their price rise just because he tweeted about them -- remains for now a mystery.

Apple closed at $489.57, their highest price since Jan. 23, having gained $22.21 (4.75%) for the day.

Join the Conversation
About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

Email | @philiped | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.