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

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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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85 months ago
Is there some way to ban that picture of Icahn from ever being used again?
Score: 39 Votes (Like | Disagree)
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85 months ago
Score: 13 Votes (Like | Disagree)
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85 months ago

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


Better ?
Score: 13 Votes (Like | Disagree)
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85 months ago
This sounds like a pump and dump strategy to me.
Score: 9 Votes (Like | Disagree)
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85 months ago

[url=https://cdn.macrumors.com/im/macrumorsthreadlogodarkd.png]Image (https://www.macrumors.com/2014/01/28/icahn-buys-more-shares/)[/url]


Image (https://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 (https://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 (https://www.macrumors.com/2014/01/22/icahn-apple-3-billion/), then a day later he purchased another $500 million (https://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 (https://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 (https://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
Score: 9 Votes (Like | Disagree)
Avatar
85 months ago
This guy is just showing off now. And yes, I agree, that photo of him is creeeeepy.
Score: 9 Votes (Like | Disagree)

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