Investor Carl Icahn to Meet with Apple CEO Tim Cook on Monday, September 30
Activist investor Carl Icahn, who recently purchased around $1-2 billion in Apple stock, has a date for his meeting with Apple CEO Tim Cook to discuss the company's stock buyback plans and other issues, according to CNBC. The two will reportedly meet in New York City next Monday, September 30.
Activist investor Carl Icahn will meet with Apple CEO Tim Cook in New York City next week, where the billionaire may discuss the company's prospects, and the possibility of adding to his sizable stake in the technology giant.
Apple announced a stock dividend and buyback program in March 2012 as part of an effort to boost shareholder return as the company's cash and investment holdings have rapidly grown in recent years. Apple increased and accelerated the stock buyback program earlier this year, issuing debt to take advantage of a drop in the company's stock price.
Icahn believes that Apple should accelerate its buyback plans even further, arguing that it is a prudent move given the company's financial position and his belief that the company's stock remains undervalued.
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Top Rated Comments
Tim Cook probably dodges his calls 10 times a day.
How droll, but I doubt this is intentional satire.
If you equate a bigger screen with innovation, I doubt you've ever endeavored to be innovative.
Icahn is a stockholder, and like all stockholders he is legally a partial owner of the company. Stockholders in the aggregate are Tim's boss. Insofar as Icahn's interests are in line with other stockholder's interests, such as wanting for Apple to pay out their unused mountain of cash, Apple should be listening to him very carefully, and doing the best they can for their owners.
You're correct. However he still has the ability to spread influence with other high investors, and could be a problem for Apple if they start meeting his demands. This needs nipping in the bud now before he starts expecting Apple to bend its business around his interests.
Carl Icahn is a huge investor, yes, but his net worth is NOT capable of taking over Apple. He might as well be a homeless beggar compared to Apple's value.
What he's doing (attempting to manipulate the value of his own investment) is still wrong and should be highly illegal, but it's not really going to actually effect Apple as a company.