For the first time in some months, a big hedge fund is making public proclamations about what he would like to do at Apple Inc. (NASDAQ:AAPL) has, in order maximize shareholder value. Carl Icahn is looking for a bigger buyback at Apple, but according to recent reports that might not be the only thing he wants from Cupertino.

Apple AAPL

New York Post‘s Kaja Whitehouse And Mark Decambre speculate about Icahn’s true intentions at Apple Inc. (NASDAQ:AAPL). The reporters took a look at the most recent filing Icahn made with the SEC concerning Nuance Communications Inc. (NASDAQ:NUAN), and concluded that the hedge fund manager may be getting more active at the company, as ValueWalk first reported several months ago.

Apple voice recognition

Nuance Communications Inc. (NASDAQ:NUAN) handles the voice recognition end of Apple’s Siri personal assistant. Carl Icahn upped his stake in the $6 billion dollar voice recognition company last week to 16.9%. The New York Post article speculates that Icahn may be looking for Apple Inc. (NASDAQ:AAPL) to buy the company outright (as noted by ValueWalk). The investments in both companies are being managed by Carl’s son, Brett, sources told ValueWalk.

According to Charles Gradante, a hedge fund manager quoted in the piece,  Apple Inc. (NASDAQ:AAPL) could get its hands on Nuance Communications Inc. (NASDAQ:NUAN) for $7 billion. Gradante says that that would be a small acquisition for Apple Inc. (NASDAQ:AAPL).

Apple Inc. (NASDAQ:AAPL) has nrver made an acquisition for more than $1 billion. The 2012 acquisition of AuthenTec, worth $356 million, being the biggest in recent years. $7 billion isn’t a small acquisition for Apple Inc. (NASDAQ:AAPL), it would be the company’s biggest acquisition ever.

Apple will not follow Icahn’s lead

Apple Inc. (NASDAQ:AAPL) is being pushed by Icahn a little, and his efforts may bring the company to increase the size of its share buyback. An increased buyback would be popular among Apple shareholders. The acquisition of Nuance Communications Inc. (NASDAQ:NUAN) would not be widely popular, and Apple isn’t in a position where it needs to do whatever Icahn tells it.

Icahn is probably not getting involved in Apple Inc. (NASDAQ:AAPL) in order to push an acquisition of Nuance Communications Inc (NASDAQ:NUAN). A move like that could be dangerous for him legally, and it is unlikely to meet with success considering the size of Apple Inc. (NASDAQ:AAPL).

The New York Post appears to be drawing lines where there are none. Nuance Communications Inc. (NASDAQ:NUAN) does business with Apple Inc. (NASDAQ:AAPL). That doesn’t mean Apple should, or will, buy it up.