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  • Icahn Fires Off New Letter to Tim Cook


    As we first reported yesterday, billionaire investor and prominent AAPL shareholder Carl Icahn told the world Wednesday that he was about to send yet another letter to Apple CEO Tim Cook.

    Well, today that letter was sent and made public. So what did the well-to-do Apple sage have to say this time around? After systematically walking readers through his projections and expectations for Apple products and services (both those announced and those rumored), Icahn offered what wasn't a criticism of Cook's leadership but a point of clarification.

    "Our valuation analysis tells us that Apple should trade at $203 per share today, and we believe the disconnect between that price and today’s price reflects an undervaluation anomaly that will soon disappear," Icahn wrote.

    His point?

    With approximately 53 million shares of AAPL in the bag, Icahn did exactly what everyone expected him to do -- once again ask Apple to consider accelerating share repurchases again via a tender offer.

    "At today’s price, Apple is one of the best investments we have ever seen from a risk reward perspective, and the size of our position is a testament to this," he writes. "This investment represents the largest position in our investment history, reflecting the strength of the convictions we have expressed in this letter. While we recognize and applaud the company’s previously increased share repurchase authorization, we ask you to consider our advice once again (to the benefit of all shareholders) and consider accelerating share repurchases again via a tender offer."

    To review the full text of the letter, click here.

    Source: MarketWatch
    This article was originally published in forum thread: Icahn Fires Off New Letter to Tim Cook started by Michael Essany View original post
    Comments 2 Comments
    1. crouching's Avatar
      crouching -
      God Icahn looks scary and dead
    1. Carvensno's Avatar
      Carvensno -
      Greedy old geezer wants the value back up so then he can sell off to make his billions leaving Apple to pick up the financial mess, just like all the others companies he has done this too. A$$h0le!!