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

camnchar Avatar
136 months ago
Is there some way to ban that picture of Icahn from ever being used again?
Score: 39 Votes (Like | Disagree)
ProVideo Avatar
136 months ago
Score: 13 Votes (Like | Disagree)
mdridwan47 Avatar
136 months ago
Is there some way to ban that picture of Icahn from ever being used again?

Better ?
Score: 13 Votes (Like | Disagree)
SoAnyway Avatar
136 months ago
This sounds like a pump and dump strategy to me.
Score: 9 Votes (Like | Disagree)
thasan Avatar
136 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)
Bistroengine Avatar
136 months ago
This guy is just showing off now. And yes, I agree, that photo of him is creeeeepy.
Score: 9 Votes (Like | Disagree)

Popular Stories

Apple Vision Pro 2 Feature 2

Apple Reportedly Suspends Work on Vision Pro 2

Tuesday June 18, 2024 8:17 am PDT by
Apple has suspended work on the second-generation Vision Pro headset to singularly focus on a cheaper model, The Information reports. Apple was widely believed to have plans to divide its Vision product line into two models, with one "Pro" model and one lower-cost standard model. The company is said to have been deprioritizing the next Vision Pro headset over the past year, gradually...
Apple WWDC24 Apple Intelligence hero 240610

Apple Explains iPhone 15 Pro Requirement for Apple Intelligence

Wednesday June 19, 2024 4:48 am PDT by
With iOS 18, iPadOS 18, and macOS Sequoia, Apple is introducing a new personalized AI experience called Apple Intelligence that uses on-device, generative large-language models to enhance the user experience across iPhone, iPad, and Mac. These new AI features require Apple's latest iPhone 15 Pro and iPhone 15 Pro Max models to work, while only Macs and iPads with M1 or later chips will...
2022 back to school apple feature

Apple's 2024 Back to School Sale Launching This Week

Monday June 17, 2024 12:27 pm PDT by
Apple will launch its annual Back to School promotion for university students in the United States and Canada this week, according to Bloomberg's Mark Gurman. Apple's back to school sales provide students with a free Apple gift card when purchasing a Mac or an iPad, and this year's promotion could help Apple push the new M2 iPad Air and M4 iPad Pro models. Last year, Apple offered U.S....
apple watch series 9 display

Kuo: Apple Watch Series 10 to Get Larger Screen and Thinner Design

Monday June 17, 2024 1:20 am PDT by
This year's Apple Watch Series 10 will be thinner and come in larger screen sizes than previous models, according to Apple analyst Ming-Chi Kuo. In his latest industry note -10-and-98075c44ce92">shared on Medium, Kuo said the screen size options on the next-generation Apple Watch will increase from 41mm to 45mm, and from 45mm to 49mm, while being encased in a thinner design. For reference,...
M4 Real Feature Red

M4 MacBook Pro Models Expected to Launch in Late 2024

Tuesday June 18, 2024 10:50 am PDT by
MacBook Pro models with an M4 chip are expected to launch in the fourth quarter of 2024, according to display analyst Ross Young. In a tweet for subscribers, Young said that panel shipments for new 14-inch and 16-inch MacBook Pro models are set to begin in the third quarter of 2024, which suggests a launch toward the end of the year. Apple started its M4 chip refresh in May with the launch...
Apple Pay Later feature 1

Apple Discontinuing Apple Pay Later

Monday June 17, 2024 11:44 am PDT by
Apple is discontinuing Apple Pay Later, the buy now, pay later feature that it just launched last October. Apple Pay Later is being discontinued as of today, but people who have existing Apple Pay Later loans will be able to continue to pay them off and manage them through the Wallet app. Apple announced plans to end the feature in a statement provided to 9to5Mac, which also notes that...
watchOS 11 Thumb 2 1

watchOS 11 Supports Automatic Nap Detection

Monday June 17, 2024 4:05 pm PDT by
watchOS 11 appears to include a new feature that allows an Apple Watch to automatically detect and record when you're taking a nap. As shared on Reddit, an Apple Watch owner took a nap and was able to see the sleep data recorded in the Health app, despite not putting the device in Sleep Mode. Right now, the Apple Watch only tracks and records sleep when it is in Sleep Mode, and there is no...
iPod Nano vs iPod Pro Ad Feature 1

Apple Developing Thinner MacBook Pro, Apple Watch, and iPhone

Monday June 17, 2024 2:22 am PDT by
Apple intends to slim down the MacBook Pro, Apple Watch, and iPhone, with the new ultra-thin M4 iPad Pro a sign of the company's new design trajectory, according to Bloomberg's Mark Gurman. When the M4 iPad Pro was unveiled last month, Apple touted it as the company's thinnest product ever, and even compared it to the 2012 iPod nano to emphasize its slim dimensions. Writing in the latest ...