Icahn would "test the waters" on Apple proxy fight if buyback plans spurned

|About: Apple Inc. (AAPL)|By:, SA News Editor

During a CNBC talk discussing his letter to Tim Cook (AAPL +1.2%), Carl Icahn says he would "test the waters" regarding an Apple proxy fight if his calls for a bigger buyback are ignored.

With a market cap of $482B, Apple is much bigger than Icahn's historical proxy war targets, and his current stake remains below 1%. However, Icahn does claim to have received significant interest from major Apple shareholders regarding a larger buyback.

Apple has gradually moved higher on an up day for equities.

Earlier: Icahn discloses larger Apple stake, calls for $150B tender