Apple's stock gained $2.44 to $551.51 Wednesday. The shares peaked at $705.07 in September 2012, then sank on concerns about intensifying competition from other mobile device makers and the lack of a breakthrough product since Apple's former CEO Steve Jobs died in 2011. Apple's stock has surged by nearly 20 percent since last August when Icahn announced his initial stake in the company.
Despite having minimal financial leverage, Icahn is still hoping his track record for prodding companies to make moves that have increased their companies' stock prices will persuade Apple's board of directors to follow his advice.
"At the risk of being immodest, I think I have one hell of a good record on telling you how to use your money or how to invest it," Icahn said during a Wednesday interview on CNBC. "Why don't they listen to some extent?"
Icahn told CNBC he will release a letter elaborating on his ideas within the next day or two.
Apple CEO Tim Cook met with Icahn during a dinner in New York last fall, but so far the Cupertino, Calif., company hasn't placated the acerbic billionaire. Echoing previous remarks, Icahn told CNBC it's a "no-brainer" to buy Apple stock now because he considers the current prices to still be a bargain.
All of Apple's shareholders will have a chance to weigh in how the board should respond to Icahn at the company's annual meeting on Feb. 28. Icahn is making his stock-buyback pitch in a non-binding proposal that Apple's board is opposing. The board says it is still meeting with investors as it mulls way to return more of Apple's cash to shareholders.
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