Billionaire activist investor Carl Icahn released an open letter to Apple CEO Tim Cook urging the company to buy back a lot more of its stock, saying “the market misunderstands and dramatically undervalues Apple.”
Jim Cramer says what Carl Icahn is doing to Apple is assault. For one thing, Cramer says, Icahn is wrong when he says Apple is not buying back stock aggressively enough — Apple is buying back faster than any other company. In his letter Carl Icahn added that the stock should be valued at $203 per share today — that’s more than double of its current $100 price. Cramer says the sum total of what Icahn is doing is picking on a winner where he used to pick on losers.
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Direct link to video here.
Related article:
Icahn: iPhone 6/Plus to hurt Android, Apple severely undervalued, increased buybacks urged – October 9, 2014
I think Icahn is just trying to run up the price since he holds so many.
Perhaps he wants to reduce the size of his holdings.
If he owned Apple stock, he wouldn’t be saying this trash. Lying, 2-faces hypocrites all of them.
Applonia…Icahn owns 53,000,000 shares (roughly)
Cramer is a flamer. But for Icon’s letter Apple would be at about $95 about now.
What flying rat dumped you out of the sky? Pathetic anonymous coward trollers. 😛
You took the insults out of my mouth. What sort of idiot thinks it’s a positive that the stock goes up temporarily simply based on a self motivated money market waster.
Icahn needs to shut his pie-hole and leave the pot to boil instead of watching over it.
But Icahn specifically noted he would not tender any of his stock for the buyback, unlike what Kramer accused him of…
Of course he wouldn’t tender his stock. A buyback would increase his percent ownership of Apple and give him a louder voice.
My point was really about Kramer’s inability to read. But about Icahn, you’re more than likely correct, and probably discloses one of his reasons for writing the letter…
Icahn is a vulture that destroys every company he touches. He is NOt an investor and cares not one iota about Apple.
Apple investors have voted on his buyback demnds and told him to fuck off already.
Apple will manage its cash and company as it sees fit and has the full vote of confidence from most of its core investors on this.
Drop dead I ahn you greedy good for nothing.
understanding this narcissist is relatively simple: mark the first letter of his name, I
add the second part of his name, con, er, that is, cahn
this readily and succinctly becomes his motto: i con
Harcourt! Harcourt Fenton Icahn what have YOU been up to!! NOTHING GOOD I’M SURE! Have YOU been drinking again?? Well, let me tell YOU, you INDOLENT, GOOD FOR NOTHING THING… thing… thing… thing……
…YAR! Always a favorite! Thank ye Peter!
LOL
Carl: Install a glitter ball above your bastion of mirrors. That should keep you happy and quiet for awhile. (O_o)
Hmm..if Icahn thinks the stock is undervalued then he should buy some more stock.
But we all know this is a play on his part to help drive the stock up. He has a right to his opinion. Seems fair to me since everyone else who has a website is able to voice FUD to spin the stock up or down depending on their ulterior motives.
Hopefully it will move the stock up past the 52 week high. Earnings call will be coming in 2 weeks so that will be fun.
Such flagrant manipulation. Isn’t there a law against this kind of activity? I would like to see a written opinion by the SEC on this type of conduct. What are the boundaries?
Ethics are important to some people.
Is it just me or does Cramer sound like Ballmer when the iPhone came out?
iCahn (get it?) will get Apple to be more aggressive. I need my shares to increase in price by 10. If he can get them to double in the next year, too, I’m well on my way to my goal.
Icahn and Cramer — even though they use different methods, neither is anything but a stock manipulating parasite circling the bunghole of the market.
Liberals don’t understand how $ works. The US$ rises when other nations do worse. How much longer is that going to happen? The US ranks outside the top 25 now academically despite ranking at/near the top in spending per pupil. That’s obviously a failed system destined to get worse. The US economy is currently 70% dependant on consumer spending. As it’s productive capacity continues to decline, that fig will rise. What happens when other nations stop buying our bonds? As the US tries to buy it’s own bonds to keep the US $ from falling to quickly it’s going to wreck it’s credit rating thereby increasing the interest owed on the bonds. It’s a vicious circle then destined to end with the collapse of the $, hyper-inflation, & IMF/World Bank assistance.
This is why Apple can’t just continue to stockpile the cash. It needs to spend more on capital assets for the company. I like the idea of Apple buying a financial services company (the GE model) here. I also like Apple converting more of it’s cash into BRIC currencies as they have a real future. Why buy the stock when Apple can hoard the options instead for a fraction of the price? That’s a better gamble for the company to risk on itself. I also like the idea of Apple buying Hulu for a fraction of what Netflix is worth. Hulu seems well-positioned to be Netflix’s biggest competition (if it’s not already) & driving Hulu viewers to iTunes media sales makes too much sense. As for TWC, Apple should wait until the Fed nixes the Comcast deal & buy it cheaper. That will provide it the infrastructure it needs to make Apple TV a viable alternative to Comcast. The combination of Hulu & Apple TV covers the consumer from all sides. While they are at it. If the Fed nixes that deal, then Apple should buy T-Mobile for cellular infrastructure & go that route instead.