Activist investor Carl Icahn earlier this year sold his position in Apple, but that doesn’t mean he no longer thinks Apple is a lucrative stock to invest in. Quite the contrary, he’s made several billion dollars on Apple!
That being said, he would invest back in the Cupertino firm were it not for Apple’s prospects in China, which he doesn’t feel secure about although he’s adamant that CEO Tim Cook is “doing a good job”.
Activist investor Carl Icahn today issued yet another open letter to Apple CEO Tim Cook. In it, he predictably pushes for an ever expanding increase of Apple’s share repurchase program.
More important than that, this time around Icahn is basing his valuation of the Cupertino firm in part on the prospect of the mythical Ultra HD Apple TV set and the Apple Car project, another sketchy rumor that had briefly entertained the press earlier in the year.
The feared investor is now valuing Apple at $1.4 trillion, expressing his belief that AAPL should be trading at more than $100 higher than its current valuation.
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 As a result of large institutional investors siding with Apple, Icahn has withdrawn his proposal…
Greedy activist investor Carl Icahn has escalated his anti-Apple rhetoric on Wednesday after recently filing a proposal to put his aggressive stock buyback proposal up for a vote. Apple responded by confirming that any changes to its own corporate stock buyback program will be discussed in the “first part of calendar 2014,” likely at the upcoming shareholder meeting in February.
Be that as it may, Icahn now feels the Apple board is “doing great disservice to shareholders” by refusing to boost the company’s buyback markedly, according to a tweet today. An in-depth letter will follow soon, the shark investor ominously announced.
At the same time, Icahn announced buying an additional half a billion dollars worth of shares, pushing his stake in the iPhone maker to north of a respectable $3 billion. He called the latest investment a “no brainer”…
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…
Some people question Carl Icahn’s motives and wonder what if the billionaire activist investor will stop at nothing in order to push Apple into burying itself in debt, just to fund his massive $150 billion stock buyback proposal so he could put a nice little profit into his pocket.
I’m not afraid of Icahn, but understand why some watchers are. And rightfully so, as Icahn is notorious for pushing for CEO and board room changes to have his way, often with little regard for a company’s well being afterwards. So, what’s the size of Icahn’s investment in Apple, does he have a leverage over Tim Cook and what exactly is he up to?
If you run a multi-billion dollar corporation and your secretary tells you activist investor Carl Icahn is on line 2, the very thought of that should send chills up your spine. Icahn is known for his ominous “increase shareholder value” mantra and stops at nothing to put forward massive corporate stock buyback programs, even pushing for board and CEO changes if need be.
Yesterday, Icahn tweeted he “just sent a letter to Tim Cook” concerning Apple’s buyback program. And now, the contents of the letter has been published on his newly launched website called the Shareholders’ Square Table.
Some people collects rocks, other people collect stamps. Apple, however, likes cash. Turns out the iPhone maker, all by itself, controls ten percent of all corporate cash in the United States.
Just how much is that? New data shows Apple’s bank account of $147 billion represents ten percent of the $1.48 trillion held by non-banking U.S. companies.
Here’s another factoid to make you even more uneasy about that measly savings account of yours: all together, Microsoft, Google, Cisco and Pfizer – not exactly nickel and dime operations – account for another fifteen percent of all U.S. corporate cash…
Dinner with billionaire investor Carl Icahn often gives corporate CEOs heartburn. Icahn is known for buying company shares, then pushing for changes – and it is no different with Apple. Monday night Icahn asked Apple CEO Tim Cook to increase to $150 billion the amount of stock the iPhone maker plans to buy back, more than doubling Apple’s previously pledge of $60 billion. Last night’s New York City dinnertime discussion comes after Icahn invested somewhere near $2 billion in Apple in August. Reports say the activist investor sees Apple shares still undervalued…
A lot of watchers hit the panic button after the billionaire investor Carl Icahn announced taking a “large position” in Apple (think north of $1 billion), which more often than not acts as a Wall Street code-word for impending board/CEO changes and hostile takeovers. But these people needn’t worry if an article by the New York Post is anything to go by.
As it turns out, Icahn may be simply looking to leverage his newly acquired influence to force Apple into buying Nuance Communications, whose technology powers Siri’s speech recognition. Icahn just recently has conveniently increased his stake in Nuance and now owns 16.4 percent of the company.
Coincidentally or not, the investor said that both Apple and Nuance in his view are currently undervalued…
Although Apple is set to buy back $60 billion of company stock through 2015, experts are advising CEO Tim Cook and others to boost that figure. An additional $50 billion stock repurchase could add $4.25 to share value at little cost to the cash-rich technology giant, according to one Wall Street analyst and activist investor Carl Icahn.
Icahn, who recently bought $1.5 billion of Apple stock, helped Apple tock surpass $500 per share…
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…