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Carl Icahn Posts Response to Apple On Proxy Proposal for Share Buyback, Buys $500 Million More in Stock
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Then why are they sitting on it??!! You should be blaming Apple for sitting on a pile of cash that is doing nothing for anybody. They could be investing it productively: growing the company, growing the economy, creating jobs. Instead, due to their lack of imagination, they are parking it in a vault. And you can defend this?
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You make it sound so personal. He's in it for the money, just like every other shareholder of AAPL.
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I know. The gall of an investor looking to make a profit. Where's the "ticked off" emoticon??!!
Found it.When Apple was failing in the 90s SJ said one of their biggest problems was not keeping enough cash on hand. It seems Apple is now over compensating. Its nearly impossible for a company to go broke if its holding a crap ton of cash. It at least gives them a lot of room to be creative. If something fails and cost them 2 billion they still have many billions left to fix it.
I barely understand anything of this stuff, but isn't there anything Apple can do to get rid of this guy? Or is it better for Apple not to? Will this guy really win either way??
At $3.5b worth of shares, all it takes is an increase of 1c for him to win either way.
He is trying to buy his way into Apple just enough to push the board and move Apple`s cash pile towards a stock buyback. He is drooling over that cash pile I`m sure.
Good luck with that. I ask this question in every thread on this subject, but nobody knows.
Anyone else read the entire letter from Icahn? I'm guessing nobody.
While you may disagree with Apple hoarding the cash, it is reckless of Apple to use that money to buy back stock. The only reason why Icahn is pushing for it is because Apple buying its stock back reduces the amount of stock available, making his more valuable. He is doing it because he wants to make a quick buck. Not because he thinks it is good for Apple in the longterm.
Apple is saving for their retirement.
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Did you read the letter? I'm guessing not.
Really? You don't know how any company can spend money to make money? You need to ask the public for ideas?
This guy again!? I hope apple nor any other company does not give in to his schemes to make him even more money by destroying them.
Apple's in it for much more than a 52% return on investment.
There are much bigger businesses available to Apple than a share buyback.
You postulated that there are other ways they can spend it. I'm asking what your opinion on those other things might be. Then maybe we could debate it from there.
I personally want to see Apple go more vertical and build their own fabs, their own networks, and perhaps their own content.
What are your ideas?
Bold added to reinforce the melodrama in your post.
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I don't disagree with that. And they're already doing a lot of that. The point is $150 billion is a lot of money. But just because it's a lot of money doesn't mean they should spend it on acquisitions, you know, just because. At some point, in my opinion, Apple has a responsibility to return a chunk of that massive wealth to its shareholders.
Why? He obviously just wants to make money off of the company. This does absolutely zero for the company overall so why the hell would they do it.
Hopefully they sink that cash back into development and obtaining new assets.