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 macrumors bot


    Apr 12, 2001

    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. camnchar macrumors 6502


    Jan 26, 2006
    SLC, Utah
    Is there some way to ban that picture of Icahn from ever being used again?
  3. OldSchoolMacGuy macrumors 68020


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


    Jan 16, 2004
    This guy is just showing off now. And yes, I agree, that photo of him is creeeeepy.
  5. Z400Racer37 macrumors 6502a

    Feb 7, 2011
    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. Gudi macrumors 68020


    May 3, 2013
    Berlin, Berlin
    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. orbital~debris macrumors 6502a


    Mar 3, 2004
    England, UK, Europe
    That photo makes him look like a Muppet-version of a deranged Count Dooku & Count von Count hybrid.
  8. mdridwan47 macrumors 6502


    Jan 20, 2014
    Better ?
  9. KazKam macrumors regular


    Oct 25, 2011
    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. tbrand7 macrumors 6502


    Feb 8, 2013
    New York
  11. MordechaiCarver macrumors member

    Nov 3, 2011
    Denver, CO
    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. street.cory macrumors 6502


    Oct 13, 2009
    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. Doomtomb macrumors regular


    Jul 14, 2011
    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. BJMRamage macrumors 68020


    Oct 2, 2007
    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. thasan macrumors 6502a

    Oct 19, 2007
    pls pls pls pls mods....can you pls use this image instead?

    Attached Files:

  16. ArtOfWarfare macrumors 604


    Nov 26, 2007
    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.
  17. iZac macrumors 68000


    Apr 28, 2003
    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.
  18. Tanegashima macrumors 6502

    Jun 23, 2009
    Doesn't apple have a patent for that?

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

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

    ProVideo macrumors 6502

    Jun 28, 2011
    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?
  21. Ryth macrumors 65816

    Apr 21, 2011
    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.
  22. pcconvert macrumors member

    Oct 24, 2008
    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.
  23. OneBagTravel macrumors 6502


    Oct 18, 2013
    MacRumors is just trolling us know with that mug.
  24. giantfan1224 macrumors 6502a


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

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