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Investor Carl Icahn to Meet with Apple CEO Tim Cook on Monday, September 30

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Apr 12, 2001
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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.
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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.

Article Link: Investor Carl Icahn to Meet with Apple CEO Tim Cook on Monday, September 30
 
Article Link
https://www.macrumors.com/2013/09/26/investor-carl-icahn-to-meet-with-apple-ceo-tim-cook-on-monday-september-30/
C

c0LdFire

macrumors regular
Jul 10, 2013
234
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Before people start circlejerking saying how it's the end of Apple as we know it, etc...

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.
 
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Technarchy

Technarchy

macrumors 604
May 21, 2012
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This Icahn guy seems like a pain in the ass.

Tim Cook probably dodges his calls 10 times a day.
 
R

rmwebs

macrumors 68040
Apr 6, 2007
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c0LdFire said:
Before people start circlejerking saying how it's the end of Apple as we know it, etc...

Carl Iahn 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.
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You're correct. However he still has the ability to spread influence with other high investors, and could be a problem for Apple if they start meeting his demands. This needs nipping in the bud now before he starts expecting Apple to bend its business around his interests.
 
ValSalva

ValSalva

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Jun 26, 2009
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Burpelson AFB
Icahn's not my favorite guy but in this case I think he's right. Apple stock is undervalued. Apple should accelerate their stock buyback plans.
 
Gasu E.

Gasu E.

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Mar 20, 2004
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Makes tons of sense. Apple is sitting on a useless cash pile. More companies should divest themselves of cash hoards through stock buybacks and dividends, rather than moaning about tax rates. If you can't figure out how to spend the money, give it to your stockholders so they can pay the taxes and spend/invest the rest as they wish.
 
Carlanga

Carlanga

macrumors 604
Nov 5, 2009
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they should have limits on how much stock you can buy...
Of course he wants a fast return on his investment, that is how he makes money, get stock before items release then sell said stock after big iPhone announcement and make money
 
Gasu E.

Gasu E.

macrumors 603
Mar 20, 2004
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rmwebs said:
This needs nipping in the bud now before he starts expecting Apple to bend its business around his interests.
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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.
 
M

Merkie

macrumors 68020
Oct 23, 2008
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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.
 
TallManNY

TallManNY

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Nov 5, 2007
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Merkie said:
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.
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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.
 
Gasu E.

Gasu E.

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mj1108 said:
This is what we need to be afraid of. See: TWA
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You seriously think there is some chance Icahn would or could acquire a healthy Apple and asset-strip it? Icahn has been an active investor in scores of companies. He has taken all sorts of roles. In this case, it's no secret he would like Apple to give him a good return by releasing their unused cahe pile, which would benefit all stockholders. In Apple's case, the stock value, even now, is much, much higher than the tangible asset value, so only a complete moron dedicated to losing his vast fortune would choose to strip it of assets. Which we can safely assume Icahn is not.
 
Battlefield Fan

Battlefield Fan

macrumors 65816
Mar 9, 2008
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Apple is not undervalued. $700 was a scam. $300-$350 is the correct price for their stock. Anything higher is a bubble that will burst. Apple has yet to prove that they won't have the same outcome of Nokia or Blackberry since phones are half their business.
 
E

everything-i

macrumors 6502a
Jun 20, 2012
827
2
London, UK
This guy is a parasite, he wants Apple to accelerate the buyback for one reason only, it increases the value of his holding. He doesn't give a damn about the long term or Apple as a company, all he cares about is his own wallet.
 
M

Merkie

macrumors 68020
Oct 23, 2008
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TallManNY said:
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.
Click to expand...

Ofcourse Tim Cook isn't interested in my opinion, but I'm sure interested in his! These meetings definitely have influenced or will influence the purchase (and possible selling) of Apple stock of Icahn's shares. You can't just ignore that.
 
giantfan1224

giantfan1224

macrumors 6502a
Mar 9, 2012
870
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Carlanga said:
they should have limits on how much stock you can buy...
Of course he wants a fast return on his investment, that is how he makes money, get stock before items release then sell said stock after big iPhone announcement and make money
Click to expand...

This guy wants to make money on his investment? The horror!!
 
Gasu E.

Gasu E.

macrumors 603
Mar 20, 2004
5,033
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Not far from Boston, MA.
Merkie said:
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.
Click to expand...

Icahn is a part owner of the company, as are you. Tim should meet with all the owners. Except Icahn owns 500,000 times as much as you, so he gets to go ahead of you on line. With your four shares, you might be able to get on Tim's calendar sometime in 2173. :D
 
M

munakib

macrumors 6502a
May 22, 2011
560
120
This lil market manipulator is just hunting down another avenue with a successful business such as Apple.

Its so sad that a single sentence from such douche bags can have profound impacts on the market. He literally can increase/decrease the value of a company over night. Tim 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.
 
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shartypants

shartypants

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Jul 27, 2010
922
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"... now that we talked about finance stuff, I need to talk to you about iOS 7, it looks so childish, we need to fix it!" :D
 
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