“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.”
Since tweeting about our large position in $AAPL on Aug 13, when the stock was 468 per share, we’ve kept buying shares of this ‘no brainer.’
— Carl Icahn (@Carl_C_Icahn) January 22, 2014
Having purchased $500 million more $AAPL shares in the last two weeks, our investment has crossed the $3 billion mark yesterday.
— Carl Icahn (@Carl_C_Icahn) January 22, 2014
We feel $APPL board is doing great disservice to shareholders by not having markedly increased its buyback. In-depth letter to follow soon.
— Carl Icahn (@Carl_C_Icahn) January 22, 2014
Full article here.
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