Activist investor Carl Icahn, who recently purchased around $1-2 billion in Apple stock, has a date for his meeting with Apple CEO Tim Cook to discuss the company's stock buyback plans and other issues, according to CNBC . The two will reportedly meet in New York City next Monday, September 30.Activist investor Carl Icahn will meet with Apple CEO Tim Cook in New York City next week, where the billionaire may discuss the company's prospects, and the possibility of adding to his sizable stake in the technology giant.
Apple announced a stock dividend and buyback program in March 2012 as part of an effort to boost shareholder return as the company's cash and investment holdings have rapidly grown in recent years. Apple increased and accelerated the stock buyback program earlier this year, issuing debt to take advantage of a drop in the company's stock price.
Icahn believes that Apple should accelerate its buyback plans even further, arguing that it is a prudent move given the company's financial position and his belief that the company's stock remains undervalued.
Tim Cook probably dodges his calls 10 times a day.
I own 4 shares of Apple but I don't think I can just pop in and schedule a meeting.
This needs nipping in the bud now before he starts expecting Apple to bend its business around his interests.
Icahn is a stockholder, and like all stockholders he is legally a partial owner of the company. Stockholders in the aggregate are Tim's boss. Insofar as Icahn's interests are in line with other stockholder's interests, such as wanting for Apple to pay out their unused mountain of cash, Apple should be listening to him very carefully, and doing the best they can for their owners.
Carl Icahn is a huge investor, yes, but his net worth is NOT capable of taking over Apple. He might as well be a homeless beggar compared to Apple's value.
What he's doing (attempting to manipulate the value of his own investment) is still wrong and should be highly illegal, but it's not really going to actually effect Apple as a company.
Its so sad that a single sentence from such douche bags can have profound impacts on the markets. He literally can increase/decrease the value of a company over night. Tom Cook seems to be a perfect match for him though, its all about making the dough cause you dont have innovation in the driving seat anymore.
I think this is weird. This guy keeps having regular meetings with Tim Cook. What sets him apart from other shareholders (except that he owns probably a lot more shares than anyone)? This has a smell of insider trading to me. Or am I alone in this :confused: ?
I own 4 shares of Apple but I don't think I can just pop in and schedule a meeting.
Yep, because Tim Cook is not interested in your opinion on financial matters. Carl Icahn is a financial legend. Regardless of if he was a shareholder or not, Cook would presumably find time to have a lunch with him.
Over the years folks have suggested to Apple that they do buy backs and dividends. They have continually failed to do so at a level to stop or reverse the cash pile accumulation. Now this is a fantastic problem to have. But Apple and its Shareholders could have done better than sit around with that cash pile earning 1% returns.
via apple - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGCir--sc6n2RHuzHVCNKp4LNb4tg&url=http://www.macrumors.com/2013/09/26/investor-carl-icahn-to-meet-with-apple-ceo-tim-cook-on-monday-september-30/
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