TECHNOLOGY NEWS: Icahn says he'd like to see Apple buy back $100 billion in stock

BOSTON (Reuters) - Billionaire investor Carl Icahn, who called on Apple to buy back more stock in a public letter released on Thursday, put a number to his plan, saying he would like the company to buy back as much as $100 billion in stock.

Speaking on cable television CNBC, Icahn said that he hopes other shareholders will join him in appealing to the company to buy back more stock. He also said that Apple CEO Tim Cook agrees with him that the company is undervalued.

In April Apple raised its share repurchase authorization to $90 billion from $60 billion announced a year earlier.

Icahn called the iPhone6 a "watershed event" for the company.

(Reporting by Svea Herbst-Bayliss; Editing by Chizu Nomiyama)


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