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Carl Icahn ups his stake in Apple to $2.5 billion

October 24, 2013: 10:36 AM ET

Sends letter to Tim Cook urging him to boost his share repurchase plan to $150 billion

Screen Shot 2013-10-24 at 12.44.37 PMFORTUNE -- Tim Cook is getting the full Carl Icahn treatment.

In the corporate raider's latest missive he reiterates in public the points he presumably made to Cook in private: That Apple is 1) seriously undervalued, 2) holds far more cash than is healthy and 3) ought to boost its $60 billion share repurchase plan -- already a record -- to $150 billion.

Below the fold: The text of his letter, courtesy of Fortune's Dan Primack.

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