Apple up as Carl Icahn lashes out at board

“Shares of Apple Inc. (AAPL) edged up on Wednesday after billionaire Carl Icahn used Twitter to step up his long-running criticism of the company’s board and again push for a bigger share buyback,” Sue Chang and Saumya Vaishampayan report for MarketWatch.

Chang and Vaishampayan report, “Icahn has been publicly pressuring Apple to use more of its cash to buy back shares to help bolster its stock price.”

“Separately, Icahn told CNBC that he likes Twitter because it makes it easy to disseminate information but not enough for him to buy the stock,” Chang and Vaishampayan report. “Shares of Twitter (TWTR) are off 0.3% in recent trade.”

Full article here.

Related articles:
Carl Icahn: Apple ‘doing great disservice to shareholders,’ ups AAPL investment to $3 billion – January 22, 2014
Apple may do more buybacks, but not on Icahn’s timetable; Cook likely to choose debt over U.S. repatriation taxes – December 30, 2013
Apple urges shareholders vote against Icahn buyback proposal – December 27, 2013
Apple urgently needs increase debt to raise earnings per share by 13.8% – November 22, 2013
RBC sees room for Apple to take on another $55 billion in debt – August 15, 2013
Apple CEO Cook makes no apology for company’s tax strategy – May 22, 2013

25 Comments

    1. I thought that there were laws to stop stock manipulation?
      Why does the SEC not investigate Icahn?
      He buys stock, tweets that he has bought stock, stock value goes up, he sells (needs investigation), stock goes down, he buys, tweets that Apple should increase the buy back, stock goes up, he sells…..Time and time again. When will the authorities put a stop to this obvious manipulation?

    1. It’s Icahn being Icahn. Agitating and whining is what he does, until he rolls on the floor screaming until he gets his way. Which, if you have noticed in the past, is something he does very, very well. (Hissy fit gone wild!)

      Isn’t Wall $treet fun?

  1. 3 billion on nearly $500 billion market capitalization = 0.6 percent. Big deal — NOT. Go to the back of the line, Carl. Plenty of shareholders for a lot longer than you, too. Yawn…

  2. Apple is up? HA! That greedy fool has cried “wolf” one too many times. Each time he tweets, Apple goes up less. I don’t want to see one more penny of Apple’s cash go into buybacks. It’s not doing Apple’s share price one bit of good. I will never vote for any increased buybacks until this present buyback is completed. And even after that my main interest is in seeing Apple expanding its business into new markets. I’d rather see Apple spend the money on pure research projects than have Apple buy its own shares.

    For what Apple is spending on buybacks they could have bought Tesla Motors and had money to spare. Tesla has so much room to grow and Apple would get Elon Musk as a bonus. I’m not saying Tesla would allow itself to be bought by Apple but it would seem both companies would have a lot to gain from each other. I’m willing to bet Wall Street would react more favorably to Apple purchasing Tesla than it is with these seemingly wasteful buybacks. Both Tesla and Apple want to build the best products possible. It would seem to be a match made in heaven.

    1. Apple does not want to get into the automobile manufacturing business. Especially with such formidable competition. But good luck to Elon. You are correct, he would be a brilliant addition/leader. With Tim Cook controlling the manufacturing and Elon out front pushing the product and leading the engineering, what an unbelievable combination that could be. Fantastic idea! If only that could happen.

    2. Forget Tesla. Buy SpaceX.

      “Evening, y’all, and thank you for coming. I’d like to start by talking about the fantastic opening of our new Apple Store in Luna City …”

  3. I’m pretty sure Icahn knows he’s not gaining any traction with his demands. CalPERS and other serious investors have clearly gone on record as backing Tim Cook and the board.

    If sending out a few tweets, threatening an e-mail, makes him feel good, so be it. There will be no shareholder revolt in his favor. Having said that, Apple, under Cook, will continue to examine ways to return value. Icahn should take no credit. Icahn will, however, make a bunch of money on a solid investment. Where else can he park $3 billion and expect to make a profit in uncertain times?

    And so it goes.

  4. Dear Carl,

    I am persuaded by your tweets and probably even more so by your future post on the matter.

    Should you wish me to add the weight of my few shares I will need you to forward to my bank account one three-month dividend check your investment is earning you. Let’s not quibble about fees and such. US$24M (US$24,000,000 if hannahjs is reading this) will ensure my vote quite nicely I think.

    Let me know in the next day or two so that I can make arrangements with my bank.

    See you in Cupertino!

    (/s)

  5. Go Carl Go! But, if you want to succeed with your demands, first you have to get us out of the Tim Cook Era. If you do that, the rest will fall into place. I promise.

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