By Christian Zibreg on Feb 10, 2014
Controversial activist investor Carl Icahn continues to aggressively purchase shares of Apple while insisting that the company increase the size of its share buyback program. His proposal for a $50 billion buyback has been met with resistance by proxy advisory firm Institutional Shareholder Services (ISS) which now recommends voting against the plan.
ISS argues that the Apple board has already returned the bulk of its U.S.-generated cash to shareholders through the company’s aggressive stock buybacks and dividends payouts. As a result of large institutional investors siding with Apple, Icahn has withdrawn his proposal… Read More
By Cody Lee on Feb 7, 2014
Apple reported the financial results for its holiday quarter late last month, and for the most part they killed it—the company set records for revenue, iPhone sales, and iPad sales during the 3-month period. But all Wall Street saw was declining growth.
The Cupertino tech giant’s stock dropped 8% that day in after-hours trading, falling from $550 per share to $500, and it has yet to rebound. But Tim Cook says Apple’s taking advantage of the unexpected price drop by going on a major buyback spree… Read More
By Cody Lee on Jan 6, 2014
Bloomberg is reporting today that Apple has come under criticism from some of its major shareholders over the absence of women on its board and throughout its executive team. Specifically, Trillium Asset Management LLC and the Sustainability Group have engaged the company on the issue.
The shareholders have met with Apple a number of times over the past few months to address the its lack of diversity in top-level ranks. They intended to bring the issue to a vote at the February shareholder meeting, but Apple agreed to address the issue via new language in its corporate charter… Read More
By Sébastien Page on Dec 4, 2013
Carl Icahn knows what he wants, and he usually gets it. These days, what Carl Icahn wants is Apple to initiate a $150 billion buyback program of its stock. Although Tim Cook hasn’t clearly expressed it, he’s been reluctant to follow Icahn’s request, which led him to file a precatory proposal.
A precatory proposal is a fancy term which, in clear English means a shareholder proposal for a stock buyback program to be voted on at Apple’s next annual shareholder meeting… Read More
By Christian Zibreg on Nov 6, 2013
Since the iPhone’s inception, Yahoo has been Apple’s exclusive provider of weather and stock market data in iOS. While I’ve never been a big fan of Yahoo’s Finance app for the iPhone and iPad, I prefer to keep tabs on stocks on the Yahoo Finance website, as opposed to Google Finance.
I’ll be changing my mind, however, as the Internet giant has at last given the iOS app a thorough overhaul while adding new features such as notifications for stock price changes, so it now feels right at home in iOS 7… Read More
By Lory Gil on Oct 9, 2013
Keeping track of your stocks can be a burden if you are using Apple’s native Stocks app. You can see increases and decreases from the day’s opening, but figuring out how much you’ve made or lost takes additional time, and usually a calculator.
Shares 2 gives you a simple and elegant view of the companies you’ve invested in, plus gives you an overview of how much money you’ve made or lost overall… Read More
By Sébastien Page on Sep 9, 2013
Here is an interesting graph to look at, a day before Apple is set to announce not one, but two new iPhones, which we’ll call the iPhone 5S and the iPhone 5C, at least until Apple proves us wrong.
This chart, created by Deutsche Bank’s Chris Whitmore takes a look at the Apple stock price during the months before and after an iPhone announcement… Read More
By Cody Lee on Aug 16, 2013
Apple’s Senior Vice President of Worldwide Marketing Phil Schiller became $20 million richer today, according to documents filed with the SEC. The papers show that Schiller cashed in a ton of Apple stock for more than $18 million in cash.
In all, Schiller sold a total of 37,172 shares of common stock at a price of $500 for a total haul of $18.6 million. That’s almost exactly half of his 75,000 shares that vested in June, which was half of the 150,000 share bonus he received last fall… Read More
By Cody Lee on Aug 14, 2013
Yesterday, Carl Icahn, one of the most prominent investors on Wall Street, set the Internet on fire when he announced that he had taken a ‘large position’ in Apple. He didn’t say how much money, exactly, but the investment is believed to be over $1 billion.
As you can imagine, Icahn’s comments also set APPL on fire as well. The already-climbing stock jumped 20 points yesterday, and ended up closing around $490. And today, it’s crossed the $500 mark on the back of another high-profile investor’s blessings… Read More
By Cody Lee on Aug 1, 2013
At the time of this writing, Apple’s stock is hovering around $456 per share. While that’s still painfully lower than its peak of $702 back in September of last year, it’s a major improvement over the $398 per share low it hit last month. So what happened?
The truth is, APPL had a nice little July. After starting the month at $405, the stock spiked around the 23rd—the day it announced its ‘disappointing’ Q3 earnings—and has been on the rise since. But why? Are investors gaining confidence in Apple again? Read More
By Cody Lee on Jun 21, 2013
According to a new filing with the SEC this afternoon, Apple’s Board of Directors has elected to modify Tim Cook’s payment package he was awarded in 2011 after being promoted to CEO. The change, which apparently came at Cook’s request, takes the one million restricted stock units he was set to receive over the next 10 years and makes the compensation more performance-based… Read More
By Ed Sutherland on May 1, 2013
Wall Street is nothing if not fickle. Questions over Apple’s future profits sent the company’s stock into a tailspin for the past six months, then a recovery of sorts is now underway.
The iPhone maker Tuesday floated a record $17 billion in debt, an action that literally had investors falling over themselves.
Consider that Apple up until now was literally the only major technology corporation with zero debt on its books. By the end of yesterday, $50 billion in orders were received for what now looks to be Apple’s latest hot product: the iDebt… Read More
By Ed Sutherland on Apr 26, 2013
To bolster its stock in the eyes of investors, Apple recently announced it would buy back $60 billion worth of shares. Such a move makes sense – after all, the iPhone maker does have this cash hoard of nearly $150 billion. However, it turns out Apple won’t touch that money, opting instead to borrow the funds.
By borrowing the money, Apple keeps its billions out of the reach of U.S. taxes, saving the corporate giant money while also retiring expensive stock dividends.
You didn’t think there was any altruism involved, did you? The move, however, isn’t without its pitfalls. Moreover, Apple isn’t alone in a corporate game of chess where it’s all about manipulating the tax code, according to a report Friday… Read More
By Ed Sutherland on Mar 11, 2013
Spring is just around the corner, the sun is shining and new concerns about Apple suppliers appear like so many dandelions. Never mind CEO Tim Cook said it’s impossible to determine the health of the iPhone maker simply by looking at suppliers.
Just as Washington, DC trades in political rumors, Wall Street and Silicon Valley are back with new scuttlebutt about Apple’s supply chain.
As a result, Apple’s stock dipped lower Monday on word that orders to suppliers were the worst on record – at least for one analyst. Others believe higher sales of iPad minis versus the larger tablet is cause for concern, while still others forecast a slow summer and then return to profitability… Read More
By Ed Sutherland on Mar 4, 2013
You can’t get a better financial advisor than Warren Buffett. The so-called ‘Oracle of Omaha’ Monday weighed in on what Apple should do, faced with low stock prices and one investor’s call to use the iPhone maker’s billions in cash. Although Buffett’s appearance Monday morning on CNBC lasted three hours, the short version is this:
Apple CEO Tim Cook should buy his company’s stock while cheap. It’s uncertain whether the financial whiz will have any luck, seeing Cook’s predecessor Steve Jobs supposedly ignored similar advice. Coincidentally or not, Apple’s market capitalization dropped below $400 billion in early trading Monday, the first such drop since January 2012… Read More
By Cody Lee on Mar 1, 2013
If you wanted to make sure that your business’ executive team was deeply committed to making it thrive, it’d probably be a good idea to make sure they held a lot of company stock. That way, their livelihoods directly depended on its success.
And that’s exactly the way it works at Apple. The company has amended its corporate bylaws to require that executive officers hold three times their annual (base) salary in AAPL stock, and it’s even higher for Tim Cook and his board of directors… Read More
By Cody Lee on Feb 27, 2013
Apple held its annual shareholder meeting this morning on its Cupertino campus. The company used the gathering to address concerns of investors, offer up some insight into its future, and of course to vote on a number of proposals.
Tim Cook did a lot of the talking, and fielded some pretty difficult questions from shareholders who are obviously disappointed with Apple’s recent stock slide. As usual, we have a roundup of all of the interesting stuff after the fold… Read More
By Cody Lee on Feb 7, 2013
Apple has just issued a statement regarding its commitment to return some of its extremely large—now more than $130 billion— cash pile to shareholders, saying that the company and its Board of Directors are in “active discussions” on what to do with its money.
The comment follows a press release sent to Apple investors this morning by Greenlight Capital, a major Apple shareholder, calling for the Cupertino-based iPhone maker to stop ‘hoarding its cash,’ and start returning some of it to its large base of stock holders… Read More
By Christian Zibreg on Feb 1, 2013
Look, these things are not the be-all, end-all for business performance, but obviously market capitalization reflects investors’ expectations concerning Apple’s future performance. The iPhone maker last Friday hit a 52-week low and as a result ceded its top spot as the world’s most-valued publicly traded corporation to the oil giant Exxon.
AAPL shares have slowly been recovering since and today has surpassed the oil conglomerate for a second time in after-hours trading. The Cupertino firm now leads Exxon with a $10 billion market cap difference, but is Apple’s valuation sustainable in the long run? Read More