Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed

IcahnActivist investor Carl Icahn, who now discloses material information via Twitter, tweeted today that he and Apple CEO Tim Cook will be having dinner together in September to discuss Icahn's desire for Apple to increase its share buyback.

Icahn recently purchased more than $1 billion in Apple stock and believes the company is 'extremely undervalued'.

Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude.

Earlier this year, Apple increased its capital return program to more than $100 billion via increased share buybacks and dividends, and issuing bonds for the first time in over a decade.

Popular Stories

iPhone SE 4 Vertical Camera Feature

iPhone SE 4 Rumored to Use Same Rear Chassis as iPhone 16

Friday July 19, 2024 7:16 am PDT by
Apple will adopt the same rear chassis manufacturing process for the iPhone SE 4 that it is using for the upcoming standard iPhone 16, claims a new rumor coming out of China. According to the Weibo-based leaker "Fixed Focus Digital," the backplate manufacturing process for the iPhone SE 4 is "exactly the same" as the standard model in Apple's upcoming iPhone 16 lineup, which is expected to...
iPhone 17 Plus Feature

iPhone 17 Lineup Specs Detail Display Upgrade and New High-End Model

Monday July 22, 2024 4:33 am PDT by
Key details about the overall specifications of the iPhone 17 lineup have been shared by the leaker known as "Ice Universe," clarifying several important aspects of next year's devices. Reports in recent months have converged in agreement that Apple will discontinue the "Plus" iPhone model in 2025 while introducing an all-new iPhone 17 "Slim" model as an even more high-end option sitting...
iPhone 16 Pro Sizes Feature

iPhone 16 Series Is Just Two Months Away: Everything We Know

Monday July 15, 2024 4:44 am PDT by
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple TV Plus Feature 2 Magenta and Blue

Apple TV+ Curbs Costs After Expensive Projects Fail to Capture Viewers

Monday July 22, 2024 5:11 am PDT by
Apple is scaling back its Hollywood spending after investing over $20 billion in original programming with limited success, Bloomberg reports. This shift comes after the streaming service, which launched in 2019, struggled to capture a significant share of the market, accounting for only 0.2% of TV viewership in the U.S., compared to Netflix's 8%. Despite heavy investment, critical acclaim,...
bsod

Microsoft Blames European Commission for Major Worldwide Outage

Monday July 22, 2024 11:55 am PDT by
Last Friday, a major CrowdStrike outage impacted PCs running Microsoft Windows, causing worldwide issues affecting airlines, retailers, banks, hospitals, rail networks, and more. Computers were stuck in continuous recovery loops, rendering them unusable. The failure was caused by an update to the CrowdStrike Falcon antivirus software that auto-installed on Windows 10 PCs, but Mac and Linux...

Top Rated Comments

alms Avatar
143 months ago
Icahn is not our friend

You realize, I hope, that Icahn is speaking publicly like this to try to force Apple to increase the buyback.

He is not a friend to Apple. Icahn has purchased a billion dollars worth of Apple stock. He wants the value of that stock to increase by some significant percentage (20%, 50%) very quickly, so he can sell it and make a buck. If things don't go his way, he'll do anything to Apple to force the issue. That's how he operates. He's not about creating long-term value or companies that are healthy over the long term.

By publicly creating the hope and expectation of a bigger buyback, he increases pressure on Apple to make a bigger buyback, whether or not that's fundamentally good for the company. Icahn creates the possibility of shareholder discontent in the absence of an increased buyback.
Score: 40 Votes (Like | Disagree)
jovada Avatar
143 months ago
Buy shares, ask the CEO to raise the price, sell shares. Hmm...
Score: 23 Votes (Like | Disagree)
GSPice Avatar
143 months ago
Icahn has influence?

I guess it makes sense..

Score: 16 Votes (Like | Disagree)
FirstNTenderbit Avatar
143 months ago
Uh oh

Nothing good can come of this.
Score: 15 Votes (Like | Disagree)
The Mercurian Avatar
143 months ago
Well.. this guy paid a BILLION!! That's quite a jump from coffee to dinner... :D
Yeah...but will Tim put out on the first date ????? :D
Score: 13 Votes (Like | Disagree)
ZacNicholson Avatar
143 months ago
Insider trading
Score: 13 Votes (Like | Disagree)