Carl Icahn Buys $500 Million More in Apple Shares Following Earnings Dip

Discussion in 'Mac Blog Discussion' started by MacRumors, Jan 28, 2014.

  1. macrumors bot

    MacRumors

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    #1
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    Activist investor Carl Icahn revealed this morning that he has purchased an additional $500 million in Apple shares following Wall Street's disappointment with the company's earnings announcement yesterday.

    Apple's share price closed at $550 yesterday, before falling as low as $503 at open this morning.

    Just last week, Icahn announced that his share in Apple had passed $3 billion, then a day later he purchased another $500 million, and now, with the addition of today's shares, Icahn now owns somewhere in excess of $4 billion in Apple, nearly 1% of the company.

    Icahn has repeatedly pushed Apple to increase buyback of its own shares and yesterday's news that the company has increased its cash on hand to more than $158 billion will likely have Icahn reiterating that demand.

    Only 22 percent of Apple's cash -- some $34.4 billion -- is located in the United States. The remaining $124.4 billion is located offshore, and Apple would need to pay significant amounts of corporate income tax if it were to bring that money back to the States for a share repurchase.

    Apple and several other tech companies have been active in lobbying the Government to allow companies to bring cash back to the United States as part of a one-year "tax holiday".


    Article Link: Carl Icahn Buys $500 Million More in Apple Shares Following Earnings Dip
     
  2. macrumors 6502

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    #2
    Is there some way to ban that picture of Icahn from ever being used again?
     
  3. macrumors 65816

    OldSchoolMacGuy

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    Jul 10, 2008
    #3
    For someone that keeps trash talking how Apple is run, he sure keeps investing in them.
     
  4. macrumors regular

    Bistroengine

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    Jan 16, 2004
    #4
    This guy is just showing off now. And yes, I agree, that photo of him is creeeeepy.
     
  5. macrumors 6502

    Joined:
    Feb 7, 2011
    #5
    Everybody is talking about how this guy is so smart and that he says it is undervalued. While I agree that it is undervalued, where the heck was he at $80 and why do we pretend that he knows so much when he missed it back then??
     
  6. macrumors 65816

    Gudi

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    May 3, 2013
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    Berlin
    #6
    Only $500 million more? What a cheapskate! That basically is a vote of mistrust in the stock.

    Is it the photo or the guy?
     
  7. macrumors 6502

    orbital~debris

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    England, UK, Europe
    #7
    That photo makes him look like a Muppet-version of a deranged Count Dooku & Count von Count hybrid.
     
  8. macrumors regular

    mdridwan47

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    #8
    Better ?
    [​IMG]
     
  9. macrumors regular

    Joined:
    Oct 25, 2011
    #9
    I honestly don't even pretend to understand what this guy's agenda or strategy is. But I do know he creeps me out, and it isn't just that photo.

    I'm fairly sure that whatever he is up to is going to somehow tarnish or injure our beloved Apple.
     
  10. macrumors 6502

    tbrand7

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    New York
    #10
    This guy isn't rich for nothing... He knows.
     
  11. macrumors member

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    Nov 3, 2011
    Location:
    Lakewood, CO
    #11
    Seriously, I don't know why anyone listens to this guy. Apple sure doesn't. He's the original Wall Street troller. He says "Oh, Apple should buy back more stock and I'm gonna write a letter.", which drives the price up, then buys more stock. All to benefit him. Can't everyone see that? Who cares what he "says" he's going to do (in regards to buying more stock)? Just do it and not publicize it.
     
  12. macrumors 6502

    street.cory

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    #12
    Every freaking time. Every single freaking time this Carl Icahn picture finds its way on this website and it just sits there giving me this stupid look
     
  13. macrumors regular

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    Jul 14, 2011
    #13
    Bill Gates should invest all his money in Apple stock then force them to listen to him. I'd rather have him than this guy telling Apple what to do.
     
  14. macrumors 68000

    BJMRamage

    Joined:
    Oct 2, 2007
    #14
    that guy (and photo) creeps me out!!!

    Sounds like he wants Apple to pay up...then continues to buy more and more and "force" them to pay him.
     
  15. macrumors 6502

    street.cory

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    #15
    [​IMG]

    Dem eyebrows
     
  16. macrumors 6502a

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    Location:
    uk
    #16
    pls pls pls pls mods....can you pls use this image instead?

    http://blog.tactus.com/wp-content/uploads/2013/10/131031-Icahn.png
     

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  17. macrumors 603

    ArtOfWarfare

    Joined:
    Nov 26, 2007
    #17
    Does Carl Icahn own 1% of Apple or does Apple own 20% of Carl Icahn? His net worth is only $20B. If It turns out he's wrong and Apple sinks (he's probably not wrong - certainly not this wrong) down to nothing, then suddenly Carl Icahn only has 80% as much money as he had before.

    Just a different spin on the concept of ownership.
     
  18. macrumors 65816

    iZac

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    Location:
    Shanghai
    #18
    just one of many possible outcomes to this:

    Man very publicly invests $4,000,000,000 in company, with suggested incentive of major stock buyback.

    Hundreds of thousands of small investors follow suit and jump on the stock.

    Stock rises.

    Man sells everything at significant profit.

    Stock plummets.

    Everyone else loses.
     
  19. macrumors 6502

    Joined:
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    Location:
    Portugal
    #19
    Doesn't apple have a patent for that?

    I mean, can't anyone sue him?
     
  20. macrumors 6502

    Joined:
    May 10, 2011
    #20
    This sounds like a pump and dump strategy to me.
     
  21. ProVideo, Jan 28, 2014
    Last edited: Jan 28, 2014

    macrumors 6502

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    Jun 28, 2011
    #21
    Is there anyway Apple can bar him from buying more shares and/or buy back all his current shares and tell him to go **** himself?
     
  22. macrumors 65816

    Joined:
    Apr 21, 2011
    #22
    If I had the money I would also.

    This company is one of the only sure things when it comes to tech for the next 5-10 years. Every other tech company is dying. Sony, Microsoft, Dell, Samsung, etc are all seeing massive declines.

    There is a disconnect with WS and Apple. If this was any other company with these earnings over and over, which no other company has ever done, their stock would be through the roof.

    I mean, there isn't ANYTHING Apple can do about analysts over-predicting and getting it wrong. But instead Apple is punished for people who are too stupid at their job.
     
  23. macrumors member

    Joined:
    Oct 24, 2008
    #23
    that's what's wrong with monetary system and stock market. He is not buying using his own funds, he do that on margin and borrows the funds. He gambles. With borrowed funds. A single guy gambles 500k x $500 = $250 mil. Two days ago another $275 mil. $0.5B for single title over past week. A single guy. So, basically, if one old man will get a change of mind or will fall in love with prostitute he can wreak havoc over financial markets.
     
  24. macrumors 6502

    OneBagTravel

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    USA
    #24
    MacRumors is just trolling us know with that mug.
     
  25. macrumors 6502a

    giantfan1224

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    Mar 9, 2012
    #25
    MacRumors should just rubber stamp the first page of comments every time they run an article about Icahn.
     

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