Apple Inc. topped $500 for the first time since January, a day after activist investor Carl Icahn disclosed a stake in the world’s largest technology company, and amid optimism that new iPhones and iPads can bolster growth.
Billionaire investor Carl Icahn said he has built up a stake in Apple Inc., ramping up the pressure from activist shareholders who want to wring changes out of the world’s most valuable technology company.
Apple Inc. plans to introduce new versions of the iPhone and iPad in time for the holiday shopping season, seeking to entice shoppers who delayed purchases amid a dearth of new models so far this year.
When it comes to the politically inflammatory issue of U.S. companies holding trillions of dollars in profits overseas, two tech firms get the lion's share of attention and blame for the practice: Apple and Cisco Systems.
President Barack Obama said his administration is taking steps to assure privacy rights are protected while government surveillance programs scour telephone records and Internet communications for links that might foil a terrorist attack.