“In April, Apple (AAPL) announced what is apparently the largest share repurchase program in the history of capitalism: $60 billion before the end of 2015,” Philip Elmer-DeWitt reports for Fortune.
“By the end of June the company had already bought $16 billion worth of its own stock — more than 25% of its eleven-quarter allocation in the space of one quarter.,” P.E.D. reports. “Two things have changed since then: 1) the stock is now 20% more expensive (compared with 5.5% for the S&P 500), and 2) Carl Icahn has entered the picture… [who has] been pressuring Tim Cook to accelerate the buybacks. And according to CNBC, Icahn and Cook have a meeting scheduled for the following Monday.”
P.E.D. reports, “The meeting has already sparked controversy.”
Read more in the full article here.
Related articles:
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
Not if they keep this iOS 7 BS up. iOS 7 is like Paul Rand’s mid-century modern nightmare. It’s a bad marriage of 21st century technology and 1960s graphic design. Jony Ive must have watched a little too much “Mad Men”.
Really, you have to be kidding. That was pretty funny.
I don’t see how you think it’s funny. It looks like Android and Windows had passionate sex, but they ended up with an effeminate boy with autism. It is that ugly.
Please just fuck off with your silly BS.
Sam Guam Tee Tong’s name looks like they crossed a gay techtard with a fortune cookie doused in loser soy sauce.
The picture that your words create is priceless. LMAO
Sam U Am- obnoxious and infantile. You know- a Shmuck.
When Windows 7 turned into Windows 8 Surface it was an abomination.
iOS 7 is a vast improvement and no half vast idiot is going to change that. One wonders if it is this traumatic for him when he buys a new car or dumps a girlfriend for a new one.
Whomever wrote that has probably never had a intimate relationship with a person of either gender.
They said it would be polarizing before they released it, and it has been.
Silly and boring, Sammy.
Why are you bringing Paul Rand into this? He had taste, unlike Jony Ive.
Not only are you a liar and a bigot, but you are also ruining the good name of a deceased person. That avatar is NOT yours, but belongs to Gary “lcuk” Birkett, of Manchester, UK. He was a Maemo developer who died back in September 2011.
Source: talk.maemo.org/showthread.php?t=76737
His Twitter (where the image is from)
Tweets by lcuk
Shame on you.
iOS 7 is classless shit that could have been produced by a committee of children retarded by any sense of art or aesthetics. True but the fanboys can’t accept the truth.
They rather blather nonsensical shit that turd smells nice so long as it has an Apple logo on it.
Seriously BLN, I usually like your posts but how can you be so insenced by ios7. I’ve used for threeomths now and yes, I thought it was garish without taste.
Most of it was the “shock of the new”. I now find ios6 kind of stale. Never was a fan of skewmorfisom (or whatever) anyway.
I’ve fiddled a fair bit and now apart from the obvious icons and the puke green shading in messages, it would be hard to tell that it’s ios7.
Yes some of the colours are off but really, the added stuff is so good it’s totally worth the minor bits.
Try it please, seriously it really is like a whole new phone.
BTW, Apple user since the Mac II , hated the original Mac and it’s pissy 9″ display. Now have iPhone 5 64g , MacBook Pro 17″ i7 2010 and iPad Mini/64Gb.
BTW, @Hannaj , I love you posts. It’s nice to hear integent posts.
Best be ready children. Apple has a chance to do payments coupled with Touch ID, which could easily add 100 billion to the market cap in the first couple of years. It would also create an enormous continuous revenue stream that could cover dividends and enable an even larger leverage position.
Buybacks are inherently good because they reward the faith of those who believe in the company while punishing the institutions that love to pump and dump. An investor will own more of Apple and will have a chance to get a larger dividend. An investment bank will have to take a significantly larger risk (i.e. pay more) to pump the stock, and they will be fighting over shares when Apple becomes an even larger juggernaut, putting some of their babies out of business in the process.
Icahn may see the writing on the wall and want to advocate a continuous buyback for the next couple of years. Or he may want to go big now. Personally, I think Apple should buy as much as they can before earnings. It’s going to be a monster 2014.
How does a high share price deter investment banks from pumping the stock ?
They buy and sell millions of dollars worth of stock at a time. All that matters to them is riding the small variations that can be exploited in the short term. It doesn’t matter if their million dollars buys a thousand shares or a hundred thousand shares. So long as they can make a small profit from that stock changing in value, they get the immediate profit that they are after.
Can anyone guess how much $AAPL rise after earnings?.
Thinking, if I should sell after the earnings or keep the baby riding till 2014.
If history is any indication, we will have another Apple event in mid October, probably to start selling the log awaited Mac Pro, intro an updated Mac Mini, intro a redesign of the MacBook Pro line and maybe something extra that uses the 17watt power supply (such as a iOS based device in a MacBook Air type shell using the A7). The stock will run up as it usually does before the event and then tank after if no net new product is introduced because Apple didn’t xxxx (where xxxx = any bs an analyst can use such as price, it doesn’t teleport and Samesung is said to have that feature coming blaa
Oops, iPad slipped and finger landed on Post. Continuing…
Blah blah) and the stock drops for a week like we just went through.
In essence if you can deal with the very bumpy ride, yes, I too think 2014 will be incredible for Apple Inc. and should be good for the stock. If you get motion sick, then cut half your position going into the next event or earnings. Pick some back up later after the analyst push it down again.
iPad slipped, huh?
Have you heard of the new Microsoft Surface 2, it features a dual position kickstand for that very reason.
Oh man, I actually got a little sick just realizing that if you took me seriously, you might consider the Surface 2 for half a second.
I fiddled with an Surface Pro Win8 Pro tablet for a few days and what a piece of crap. Very sad as I was hoping for a viable alternative to android (which sucks big time).
So sad, I hoped that M$ would have done better but with Ballmer(both nuts) as CEO mediocracy and complexity rule.