Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed

IcahnActivist investor Carl Icahn, who now discloses material information via Twitter, tweeted today that he and Apple CEO Tim Cook will be having dinner together in September to discuss Icahn's desire for Apple to increase its share buyback.

Icahn recently purchased more than $1 billion in Apple stock and believes the company is 'extremely undervalued'.

Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude.

Earlier this year, Apple increased its capital return program to more than $100 billion via increased share buybacks and dividends, and issuing bonds for the first time in over a decade.

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Top Rated Comments

alms Avatar
141 months ago
Icahn is not our friend

You realize, I hope, that Icahn is speaking publicly like this to try to force Apple to increase the buyback.

He is not a friend to Apple. Icahn has purchased a billion dollars worth of Apple stock. He wants the value of that stock to increase by some significant percentage (20%, 50%) very quickly, so he can sell it and make a buck. If things don't go his way, he'll do anything to Apple to force the issue. That's how he operates. He's not about creating long-term value or companies that are healthy over the long term.

By publicly creating the hope and expectation of a bigger buyback, he increases pressure on Apple to make a bigger buyback, whether or not that's fundamentally good for the company. Icahn creates the possibility of shareholder discontent in the absence of an increased buyback.
Score: 40 Votes (Like | Disagree)
jovada Avatar
141 months ago
Buy shares, ask the CEO to raise the price, sell shares. Hmm...
Score: 23 Votes (Like | Disagree)
GSPice Avatar
141 months ago
Icahn has influence?

I guess it makes sense..

Score: 16 Votes (Like | Disagree)
FirstNTenderbit Avatar
141 months ago
Uh oh

Nothing good can come of this.
Score: 15 Votes (Like | Disagree)
The Mercurian Avatar
141 months ago
Well.. this guy paid a BILLION!! That's quite a jump from coffee to dinner... :D
Yeah...but will Tim put out on the first date ????? :D
Score: 13 Votes (Like | Disagree)
ZacNicholson Avatar
141 months ago
Insider trading
Score: 13 Votes (Like | Disagree)