In August, about a month before giving up his fight to keep Dell from going private, activist investor Carl Icahn (pictured) took an estimated $1.5 billion stake in Apple and wasted no time in voicing his opinion that Apple shares were undervalued.
"Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly," Icahn tweeted Aug. 13.
In October, Icahn turned up the pressure by publishing a letter he'd sent to Tim Cook as part of his campaign to get Apple to buy back stock from shareholders. In it, Icahn said the buyback would be "unprecedented" in size and could lead to a tripling of Apple shares, which were trading at $525 a share at the time.