“It looks like Apple’s CEO Tim Cook is going to be hearing a lot more from Carl Icahn,” Cadie Thompson reports for CNBC.
“The billionaire investor said Tuesday on CNBC’s “Fast Money” that the tech giant is missing a golden opportunity if it doesn’t issue a bigger share buyback, and he intends to make sure that shareholders are represented even if the board does not want to go ahead with a bigger buybac,” Thompson reports. “‘I feel very strongly about this,’ Icahn said. ‘I can’t promise you the stock will go up and I can’t promise you they will do the buyback. But I can promise you that I’m not going away until they hear a lot more from me concerning this.'”
Thompson reports, “‘It’s a no-brainer and it makes no sense for this company with their multiple being so low not to do a major major buyback. And there’s another reason that I mention, that I think might go forgotten, the fact that you can borrow money so cheaply today. I don’t think we are going to see this again,’ Icahn said on CNBC’s Halftime Report. ‘They have a golden opportunity to go borrow money.'”
Read more in the full article here.
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