+ Reply
Results 1 to 12 of 12

Your favorite Apple, iPhone, iPad, iOS, Jailbreak, and Cydia site.


Thread: Carl Icahn Invests another $500 Million in Apple after Stock Value Tumbles

is a discussion within the

Mac News

forums, a part of the

General Apple/Mac

section;
...
  1. #1
    MMi Staff Writer Akshay Masand's Avatar
    Join Date
    Sep 2011
    Location
    New York City
    Posts
    3,889
    Thanks
    3
    Thanked 121 Times in 106 Posts

    Default Carl Icahn Invests another $500 Million in Apple after Stock Value Tumbles


    With the share price of Apple dropping more than $40 recently following a disappointing earnings report, billionaire Carl Icahn announced that he has bought another $500 million stake in the company. Icahn took to his official Twitter account to announce his purchase and unsurprisingly he also pushed his desire for Apple to increase its share buyback program. He wrote the following regarding the matter:

    My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race.
    The announcement comes less than a week after Icahn announced that he had placed another $500 million bet on Apple shares. This means that Icahn has put over $1 billion into Apple in the last week. Though Icahn has been critical of Apple’s board of directors for their growing cash hoard, he believes the company itself has a bright future ahead of it. On a number of occasions, Icahn has stated his investment in AAPL is a “no brainer.”

    Icahn, the activist investor who has a reputation for using his considerable sway with publicly traded companies, believes Apple should spend the entirety of its $158.8 billion in cash on its own shares. However, he has made a more moderate proposal to shareholders, asking by proxy vote that Apple invest $50 billion immediately. Apple has advised that shareholders vote against the proposal at its upcoming annual investor meeting, saying that its board is already “thoughtfully considering options for returning additional cash to shareholders.”

    For those of you who didn’t know, shares of Apple recently tumbled after the company reported its December quarter earnings on Monday. Though it was a record quarter for the company, investors had anticipated more growth and were particularly bothered by lower-than-expected iPhone sales of 51 million units.

    Source: Carl Icahn (Twitter) via AppleInsider

    Twitter: @AkshayMasand

  2. #2
    iPhone? More like MyPhone crouching's Avatar
    Join Date
    May 2008
    Location
    Tampa, FL
    Posts
    104
    Thanks
    5
    Thanked 7 Times in 7 Posts

    So tired if this guy! Wish he would just leave already!!

  3. #3
    Green Apple
    Join Date
    Feb 2008
    Posts
    58
    Thanks
    1
    Thanked 3 Times in 3 Posts

    Quote Originally Posted by crouching View Post
    So tired if this guy! Wish he would just leave already!!
    Personally I like what he wants to be done. Apple stock keeps going down despite having one of the highest if not the highest net profits of any company in the world. The more they buyback the less pressure they will have from the share holders. Ofcourse mean while this guy will ride the rise of value of the stock and be even more rich. Apple may eventually be able to have full control of its timelines for any of it's product and "new" categories.

    I'm tired. Maybe this response made no sense

  4. #4
    iPhone Warranty Voider Faresismail's Avatar
    Join Date
    Dec 2012
    Posts
    342
    Thanks
    41
    Thanked 26 Times in 25 Posts

    Can someone please explain how will apple benefit by buying its shares back ( I'm not being sarcastic )

  5. #5
    iPhoneaholic
    Join Date
    Aug 2010
    Posts
    408
    Thanks
    0
    Thanked 42 Times in 34 Posts

    If you got that kind of money in this economy you might as well put it to good use

  6. #6
    Livin the iPhone Life exNavy's Avatar
    Join Date
    Jun 2007
    Location
    Arizona
    Posts
    1,055
    Thanks
    57
    Thanked 171 Times in 125 Posts

    Would be nice to give that 500 million to people who really need it: the unemployed, the hungry on the streets, et cetera instead of some already well-off corporate monstrosity.

  7. #7
    Livin the iPhone Life bigboyz's Avatar
    Join Date
    Feb 2009
    Location
    North East Coast
    Posts
    1,596
    Thanks
    2
    Thanked 188 Times in 135 Posts

    I am not this guys biggest fan. At the same time he is a capitalist and is riding the wave. Unfortunately capitalist do not go into business to feed the poor. In a perfect world that would be ideal..maybe someday.

  8. #8
    iPhoneaholic romeo_herman's Avatar
    Join Date
    Mar 2009
    Posts
    306
    Thanks
    2
    Thanked 42 Times in 15 Posts

    If me, I' m not buying AAPL but I will buy NOK....

  9. #9
    iPhoneaholic
    Join Date
    Apr 2008
    Posts
    456
    Thanks
    0
    Thanked 63 Times in 47 Posts

    Either the biggest fanboy ever, or he knows something the rest of the world doesn't, as billionaire investors often do.

    Quote Originally Posted by Faresismail View Post
    Can someone please explain how will apple benefit by buying its shares back ( I'm not being sarcastic )
    It's a signal to the market that you have a lot of faith in your company, and that you believe your market price is undervalued. It lowers dividend cash expenditures because the less stock out there the less dividends to pay. It makes your earnings per share go up, but only if the stock is fully retired (search EPS vs diluted EPS).

    Just a few general quick ones off the top of my head, the individual businesses may have other reasons.

  10. The Following User Says Thank You to fleurya For This Useful Post:

    Faresismail (01-29-2014)

  11. #10
    Starbucks Artist mmaboi21's Avatar
    Join Date
    Jan 2011
    Location
    Bakersfield CA.
    Posts
    2,402
    Thanks
    162
    Thanked 207 Times in 160 Posts

    Quote Originally Posted by fleurya View Post
    Either the biggest fanboy ever, or he knows something the rest of the world doesn't, as billionaire investors often do.



    It's a signal to the market that you have a lot of faith in your company, and that you believe your market price is undervalued. It lowers dividend cash expenditures because the less stock out there the less dividends to pay. It makes your earnings per share go up, but only if the stock is fully retired (search EPS vs diluted EPS).

    Just a few general quick ones off the top of my head, the individual businesses may have other reasons.
    Great info, only thing I disagree with is the fanboy comment.

  12. #11
    iPhoneaholic quidam_brujah's Avatar
    Join Date
    Oct 2008
    Posts
    472
    Thanks
    84
    Thanked 37 Times in 28 Posts

    Quote Originally Posted by exNavy View Post
    Would be nice to give that 500 million to people who really need it: the unemployed, the hungry on the streets, et cetera instead of some already well-off corporate monstrosity.
    While I appreciate the sentiment, your suggestion hardly benefits Apple. The US hasn't gone Commie quite yet.

  13. #12
    iPhone? More like MyPhone ThatOneProfile's Avatar
    Join Date
    Jan 2013
    Posts
    282
    Thanks
    46
    Thanked 31 Times in 24 Posts

    Quote Originally Posted by exNavy View Post
    Would be nice to give that 500 million to people who really need it: the unemployed, the hungry on the streets, et cetera instead of some already well-off corporate monstrosity.
    Do you give your money to the unemployed?

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts