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Old Aug 22, 2013, 01:50 PM   #1
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Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed




Activist 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'.
Quote:
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.

Article Link: Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed
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Old Aug 22, 2013, 01:53 PM   #2
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Buy shares, ask the CEO to raise the price, sell shares. Hmm...
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Old Aug 22, 2013, 01:54 PM   #3
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Old Aug 22, 2013, 01:54 PM   #4
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Damn. And someone paid more than $500,000 just to have a cup of coffee with him let alone dinner.
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Old Aug 22, 2013, 01:56 PM   #5
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Originally Posted by jovada View Post
Buy shares, ask the CEO to raise the price, sell shares. Hmm...
Huh ? How is he asking Apple to raise the price ?
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Old Aug 22, 2013, 01:56 PM   #6
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Damn. And someone paid more than $500,000 just to have a cup of coffee with him let alone dinner.
Well.. this guy paid a BILLION!! That's quite a jump from coffee to dinner...
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Old Aug 22, 2013, 01:57 PM   #7
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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.
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Old Aug 22, 2013, 01:59 PM   #8
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Well.. this guy paid a BILLION!! That's quite a jump from coffee to dinner...
Yeah...but will Tim put out on the first date ?????
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Old Aug 22, 2013, 02:00 PM   #9
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Uh oh

Nothing good can come of this.
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Old Aug 22, 2013, 02:00 PM   #10
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I cannot fathom wanting to do these things over dinner. Why eat at these things. That always bugs me.
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Old Aug 22, 2013, 02:01 PM   #11
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Well, IMHO he's right about Apple stock being undervalued.

And I can't comment on how he chooses to spend his money, because I'm fairly short of having $1 billion burning a hole in my pocket.
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Old Aug 22, 2013, 02:01 PM   #12
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Icahn has influence?

I guess it makes sense..

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Old Aug 22, 2013, 02:02 PM   #13
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right in the middle of a Nasdaq system failure... imo they will halt Apple until tomorrow on fear of huge volume at open this afternoon.
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Old Aug 22, 2013, 02:02 PM   #14
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Let's just hope he is not trying break Apple down to 1990's level….
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Old Aug 22, 2013, 02:04 PM   #15
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Buy shares, ask the CEO to raise the price, sell shares. Hmm...
Business as usual on Wall Street.
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Old Aug 22, 2013, 02:06 PM   #16
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I think Steve just rolled over.
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Old Aug 22, 2013, 02:08 PM   #17
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Well.. this guy paid a BILLION!! That's quite a jump from coffee to dinner...
In hopes of ROI. Even though the $500,000 went to charity, there's no ROI on that (other than maybe taxes).
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Old Aug 22, 2013, 02:09 PM   #18
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I thought that man looked familiar. He was in Star Wars.
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Old Aug 22, 2013, 02:10 PM   #19
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*cough* Scooby Doo ending perhaps?

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Old Aug 22, 2013, 02:10 PM   #20
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Old Aug 22, 2013, 02:11 PM   #21
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Originally Posted by alms View Post
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.
Exactly. There's a reason he's renowned as being controversial.

There must be SEC limitations in place here. Shareholders shouldn't have manipulation ability to change stock price in a volatile sense such as this.
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Old Aug 22, 2013, 02:13 PM   #22
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Originally Posted by alms View Post
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.
The rest of us buy Apple stock to frame it and put it on our walls.

Apparently.
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Old Aug 22, 2013, 02:13 PM   #23
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Originally Posted by Dwalls90 View Post
Exactly. There's a reason he's renowned as being controversial.

There must be SEC limitations in place here. Shareholders shouldn't have manipulation ability to change stock price in a volatile sense such as this.
Too bad any limitations won't matter.

If the SEC did their job Madoff would never have run a 50 billion dollar ponzi scheme, for over a decade, after being warned repeatedly about it.

The SEC is a joke on wall-street.
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Old Aug 22, 2013, 02:14 PM   #24
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Huh ? How is he asking Apple to raise the price ?
"Icahn's desire for Apple to increase its share buyback." Share buyback => raised price. Either he wants to make a quick buck by selling soon, as some have said here, or he genuinely thinks that Apple is undervalued and can prosper long-term.

I had no idea what his plan was, but now that he's talking with Tim Cook to buy back shares, I'm getting suspicious.
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Old Aug 22, 2013, 02:14 PM   #25
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