Carl Ichan blinks in game of chicken with Apple

TIME coverboy Carl Icahn is on Apple’s case to give back more of its cash to shareholders — like himself,” Adam Lashinsky reports for Fortune.

“On Wednesday, Icahn told Time and his nearly 119,000 Twitter followers that he plans to make a precatory proposal that Apple increase its buyback program. (Precatory means ‘of, relating to, or expressing a wish or request.’ In other words, it is non-binding. It’s his way of saying ‘pretty please’),” Lashinsky reports. “The catch is that Icahn acknowledged his new request is ‘not at the $150 billion level.’ That’s a reference to his previous suggestion for the amount Apple should jump on straight away.”

CNBC, citing a source, says Icahn wants $50 billion now, and that he’d like it by the end of the current fiscal year, which is 10 months away,” Lashinsky reports. “Assuming the figure is correct, Icahn has gone from $150 billion right now to $50 billion when Apple can get around to it.”

Read more in the full article here.

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    1. But is not utterly individualistic selfishness, I got mine fuck you, the current cultural and ideological touchstone of our contemporary so-called “conservatives”
      Isn’t total dog-eat-dogism what’s going to make this nation great for everybody?

  1. I think that he knows the share price is going back up without the buyback.
    It wasn’t that long ago that the share price was at a ridiculous $390 range and a share buyback at that price made sense for Apple- they have obligations to their employees to fulfill .

    1. Parasite is right, he’s just something that draws all of its sustenance from a living, breathing entity; basically a vampire.
      Next time he mentions having a stake in the company, perhaps the company can give it to him, I’ll happily lend them a hammer to make it easier to drive it through his rib-cage…

      1. Most if not all of the so-called 1% are parasites, they are controlling ever greater persons of the wealth leaving nothing for the rest of us, and they are basically sucking the life blood of the economy so they can have additional hundreds of millions if not billions. After all they are such a persecuted and picked on minority. They really need a few more breaks, like massive tax cuts for them.

  2. It’s nice to see mister big and bold Ichan being reduce to asking nicely for scraps. Maybe he finally realized that Apple neither needs nor wants his help and that in a battle of bank accounts Ichan’s net worth could be found in Apples couch cushions.

  3. Carl Icahn is not stupid. An increased stock buyback program for Apple makes a lot more sense when AAPL is around $400. Now that it’s above $550 and headed toward $600, it makes a lot LESS sense. Icahn obviously knows this, and knows Apple is not going to do it (and probably does not even want Apple to do it).

    But Icahn making more noise about the possibility of more stock buyback pushes AAPL higher. And that’s good for Icahn and all other AAPL investors. Those who complain about negative AAPL manipulation should note that the manipulation goes BOTH ways.

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