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Icahn wants Apple to do a bigger share repurchase

Billionaire investor Carl Icahn is pushing CEO Tim Cook to put Apple's cash horde toward a bigger share buyback.

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Icahn, whose investment firm owns about $2 billion worth of Apple shares, met Cook for dinner Monday to discuss the potential for a buyback in the realm of $150 billion. But the figure Apple had in mind was just a fraction of that, which caused some tension during the meal.

"It might have got a little bit testy because the CFO was also there to discuss the fact that, well, the board had said they want to do $16 billion and I said, 'So what?' " Icahn told CNBC on Tuesday.

A share repurchase could improve the stock's value, but Apple shares already trade at about seven times earnings.

—By CNBC's Althea Chang