Carl Icahn Buys $500 Million More in Apple Shares Following Earnings Dip

Tuesday January 28, 2014 8:27 AM PST by Jordan Golson
carl_icahn_potraitActivist investor Carl Icahn revealed this morning that he has purchased an additional $500 million in Apple shares following Wall Street's disappointment with the company's earnings announcement yesterday.

Apple's share price closed at $550 yesterday, before falling as low as $503 at open this morning.

Just last week, Icahn announced that his share in Apple had passed $3 billion, then a day later he purchased another $500 million, and now, with the addition of today's shares, Icahn now owns somewhere in excess of $4 billion in Apple, nearly 1% of the company.

Icahn has repeatedly pushed Apple to increase buyback of its own shares and yesterday's news that the company has increased its cash on hand to more than $158 billion will likely have Icahn reiterating that demand.

Only 22 percent of Apple's cash -- some $34.4 billion -- is located in the United States. The remaining $124.4 billion is located offshore, and Apple would need to pay significant amounts of corporate income tax if it were to bring that money back to the States for a share repurchase.

Apple and several other tech companies have been active in lobbying the Government to allow companies to bring cash back to the United States as part of a one-year "tax holiday".

Top Rated Comments

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11 months ago
Is there some way to ban that picture of Icahn from ever being used again?
Rating: 39 Votes
11 months ago

Is there some way to ban that picture of Icahn from ever being used again?


Better ?
Rating: 13 Votes
11 months ago
Rating: 13 Votes
11 months ago
For someone that keeps trash talking how Apple is run, he sure keeps investing in them.
Rating: 9 Votes
11 months ago
This guy is just showing off now. And yes, I agree, that photo of him is creeeeepy.
Rating: 9 Votes
11 months ago

[url=http://cdn.macrumors.com/im/macrumorsthreadlogo.gif]Image (http://www.macrumors.com/2014/01/28/icahn-buys-more-shares/)[/url]


Image (http://cdn.macrumors.com/article-new/2013/12/carl_icahn_potrait-250x379.jpg)Activist investor Carl Icahn revealed this morning (https://twitter.com/Carl_C_Icahn/status/428196836860375040) that he has purchased an additional $500 million in Apple shares following Wall Street's disappointment with the company's earnings announcement (http://www.macrumors.com/2014/01/27/apple-earnings-q1-2014/) yesterday.

Apple's share price closed at $550 yesterday, before falling as low as $503 at open this morning.

Just last week, Icahn announced that his share in Apple had passed $3 billion (http://www.macrumors.com/2014/01/22/icahn-apple-3-billion/), then a day later he purchased another $500 million (http://www.macrumors.com/2014/01/23/carl-icahn-vote-yes-proxy-poposal/), and now, with the addition of today's shares, Icahn now owns somewhere in excess of $4 billion in Apple, nearly 1% of the company.

Icahn has repeatedly pushed Apple to increase buyback of its own shares and yesterday's news that the company has increased its cash on hand to more than $158 billion will likely have Icahn reiterating that demand.

Only 22 percent of Apple's cash -- some $34.4 billion -- is located in the United States. The remaining $124.4 billion is located offshore, and Apple would need to pay significant amounts of corporate income tax if it were to bring that money back to the States for a share repurchase.

Apple and several other tech companies have been active in lobbying (http://www.macrumors.com/2011/02/16/apple-lobbying-for-international-tax-amnesty-to-bring-home-profits/) the Government to allow companies to bring cash back to the United States as part of a one-year "tax holiday".



Article Link: Carl Icahn Buys $500 Million More in Apple Shares Following Earnings Dip (http://www.macrumors.com/2014/01/28/icahn-buys-more-shares/)


pls pls pls pls mods....can you pls use this image instead?

http://blog.tactus.com/wp-content/uploads/2013/10/131031-Icahn.png
Rating: 9 Votes
11 months ago
This sounds like a pump and dump strategy to me.
Rating: 9 Votes
11 months ago
I honestly don't even pretend to understand what this guy's agenda or strategy is. But I do know he creeps me out, and it isn't just that photo.

I'm fairly sure that whatever he is up to is going to somehow tarnish or injure our beloved Apple.
Rating: 6 Votes
11 months ago
just one of many possible outcomes to this:

Man very publicly invests $4,000,000,000 in company, with suggested incentive of major stock buyback.

Hundreds of thousands of small investors follow suit and jump on the stock.

Stock rises.

Man sells everything at significant profit.

Stock plummets.

Everyone else loses.
Rating: 6 Votes
11 months ago
Every freaking time. Every single freaking time this Carl Icahn picture finds its way on this website and it just sits there giving me this stupid look
Rating: 6 Votes

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