[F]or all the fuss, and we know just how vocal Mr. Icahn can become on television, his fund holds around 0.5% of shares outstanding at Apple. Granted that’s worth a tidy $2.5 billion but it is well down the pecking order. Icahn Associates’ holding of 4.7 million shares compares to 47.0 million held by Apple’s largest investor – Blackrock – which owns 5.2% or 47 million of Apple valued at $23.5 billion at current prices. Based on his near-hour long appearance on television over lunch, perhaps we should expect to hear the Blackrock folks take to the airwaves all day Friday to pitch their case for how Tim Cook needs to run his company. – Andrew Wilkinson, Miller Tabak & Co.
Read more in the full article here.
MacDailyNews Take: Sounds familiar:
This isn’t Dell, thank Jobs.
Apple has a market cap of $445 billion. Icahn reportedly has just over $1 billion in AAPL. His “large” stake is actually around 0.22% of Apple; not 20%, not even 2%. He’d need to quadruple his current “large” stake just to get to 1%.
Icahn’s stake is “large” to him, not to Apple. To Apple, it’s a drop in the ocean.
So, while he can squawk on Twitter and other media, less than a quarter of one percent doesn’t buy him a lot of financial leverage to “force” Apple to do anything beyond a yawn. At 0.22%, he’s lucky Tim even bothered to pick up the phone. – MacDailyNews Take, August 14, 2013
[Thanks to MacDailyNews Reader "Rainy Day" for the heads up.]
Carl Icahn’s letter to Tim Cook asks Apple to commence immediate $150 billion buyback – October 24, 2013
Carl Icahn sends letter to Tim Cook, pressures Apple for a buyback – October 23, 2013
Activist investors like Carl Icahn destroying companies, costing jobs, says corporate attorney – October 9, 2013
Carl Icahn’s Apple buyback seen failing in bonds – October 7, 2013
Henry Blodget: Apple should tell Carl Icahn to ‘stuff it’; America should be incredibly proud of Apple – October 2, 2013
Apple should not bow to Carl Icahn – October 1, 2013
Carl Icahn says firm now has $2 billion in Apple shares; another meeting with Apple in 3 weeks – October 1, 2013
Carl Icahn demands $150 billion from Apple – October 1, 2013
Will Carl Icahn pick a fight with Apple? – October 1, 2013
Tim Cook to meet with Carl Icahn on Monday in New York City – September 26, 2013
Carl Icahn scoops up Apple stock on post-iPhone event plummet – September 13, 2013
Carl Icahn buys ‘quite a bit more’ Apple shares following unveiling of iPhone 5s and iPhone 5c – September 11, 2013
Carl Icahn’s ulterior motive: To get Apple to buy Nuance – September 3, 2013
Carl Icahn to dine, discuss buybacks with Apple CEO Cook in September – August 22, 2013
Icahn to meet with Apple CEO Tim Cook in September – August 22, 2013
How Carl Icahn will accelerate Apple’s ascent – August 14, 2013
Billionaire Carl Icahn says Apple shares could trade at $700 with increased buyback program – August 13, 2013
Carl Icahn spells the end of an era at Apple; this is the end for the Apple that you knew and loved – August 13, 2013
Carl Icahn reveals large Apple position, reportedly over $1 billion; wants to see Apple increase stock buybacks – August 13, 2013
Apple stock goes vertical: The Carl Icahn effect – August 13, 2013