Carl Icahn Abandons Push for Apple to Boost Stock Buyback
Billionaire Carl Icahn has abandoned his effort to encourage Apple to increase its stock repurchasing program, according to a new letter addressed to Apple shareholders. Icahn had aggressively pushed for an increased stock buyback of up to $150 billion, going so far as to recommend a proxy vote for shareholders to support his agenda.

In explaining his reversal, Icahn points to a recent decision by Apple to repurchase $14 billion on a dip in the company's stock price following its most recent earnings announcement. Well-known proxy advisory firm Institutional Shareholder Services (ISS) this week also sided with Apple and recommended against Icahn's scaled-back $50 billion stock buyback plan presented to shareholders.
That being said, we also agree with ISS's observation, taking into account that the company recently repurchased in "two weeks alone" $14 billion worth in shares, that "for fiscal 2014, it appears on track to repurchase at least $32 billion in shares." Our proposal, as ISS points out, "thus effectively only asks the board to spend another $18 billion on repurchases in the current year."
As Tim Cook describes them, these recent actions taken by the company to repurchase shares have been both "opportunistic" and "aggressive" and we are supportive. In light of these actions, and ISS's recommendation, we see no reason to persist with our non-binding proposal, especially when the company is already so close to fulfilling our requested repurchase target.
Icahn went on to say that he is excited about Apple's future, which will see the company introduce products in new categories this year. Rumors strongly suggest Apple is working on a watch/fitness band with sensors to potentially measure steps, calories, heart rate, glucose levels and more. Apple has assembled a "dream team" to work on this iWatch product, hiring a number of the best and brightest scientists from the medical device and health sensor field.
Apple's 2014 annual meeting of shareholders is scheduled for February 28, 2014.
Popular Stories
Update: the Naver account appears to be referencing a speculative post on X by Vadim Yuryev, dated October 6. The original article follows.
Apple will announce new products through a series of press releases beginning as soon as next week, according to a dubious claim posted on the Korean blog Naver.
The Naver blog account yeux1122, which aggregates rather than originates Apple...
Apple plans to announce new products "this week," according to Bloomberg's Mark Gurman.
Apple's "Mac Your Calendars" teaser last October
In his Power On newsletter today, Gurman said the products set to be updated this week include the iPad Pro, Vision Pro, and "likely" the base 14-inch MacBook Pro, with all three likely to receive a spec bump with Apple's next-generation M5 chip.
Gurman...
While the iPhone 18 Pro and iPhone 18 Pro Max are still nearly a year away, a handful of new features and changes have already been rumored for the devices.
Below, we have recapped some of the early iPhone 18 Pro rumors so far.
Smaller Dynamic Island
The standard iPhone 18, iPhone 18 Pro, and iPhone 18 Pro Max will be equipped with a slightly smaller Dynamic Island, but the devices will...
Apple's software engineers are internally testing iOS 26.0.2, according to MacRumors logs, which have been a reliable indicator of upcoming iOS versions.
iOS 26.0.2 will likely be a minor update that addresses bugs and/or security vulnerabilities, but we do not know any specific details yet.
The update will likely be released within the next few weeks.
Last month, Apple released iOS...
Apple's hardware engineering chief John Ternus remains the "leading contender" to become the company's next CEO, according to Bloomberg's Mark Gurman.
Ternus is 50 years old, so he is still young enough to have a long run at the helm of Apple, after current CEO Tim Cook retires. He is already a key decision-maker at Apple, according to Gurman, and he appears to have a charismatic...
Chinese smartphone maker Vivo has taken some inspiration from Apple's Liquid Glass design language for its latest operating system update, OriginOS 6. Unveiled this week, OriginOS 6 has the same rounded buttons and translucent glass look as iOS 26.
In a demo video, a Vivo smartphone features an interface that could be easily mistaken for iOS 26. There's a Liquid Glass clock, Control Center,...
While it is unclear if Apple will host an October event this year, or stick to press releases, rumors suggest it will announce several new products this month.
The graphic for Apple's "Unleashed" event in October 2021
Below, we have recapped everything to know about a potential Apple event this October.
When
The table below outlines when Apple teased its October launches over the past...
Apple has invited a group of social media influencers to Colorado this week for an unusual event involving group hiking, trail running, and other outdoor activities designed to showcase the company's recently launched iPhone 17 Pro Max, AirPods Pro 3, and Apple Watch Ultra 3.
An invitation was shared on X (Twitter) by photographer Johnny Hawk, featuring a simple message: "Hi Johnny. We're so ...
Apple is planning to release a base MacBook Pro with a standard M5 chip before higher-end models with M5 Pro and M5 Max chips, according to AppleInsider's sources with "knowledge of macOS Tahoe development and hardware testing."
The report said a MacBook Pro with an M5 chip is "nearing release," and Apple has apparently been testing this model with an unreleased macOS 26.0.2 version....