Dear Mr. Icahn,
If you read this, please contact me to donate me 0.00001% of your money. I'm worth it!
Thanks!
I'll gladly do work for 0.004% of the $2 Billion he cashed in on...
Dear Mr. Icahn,
If you read this, please contact me to donate me 0.00001% of your money. I'm worth it!
Thanks!
I have never been able to understand AAPL's valuation and strange price movement (relative to comparable stocks).
What makes me angry about this story is not the profit Icahn has made. There are plenty of greedy bastards on Wall Street. No, what makes me mad is how much money Apple have wasted on share buybacks to please this guy and his mates. That is a criminal waste of money. It could have been spent on long term investments that would have bolstered the share price long term. Think of all the companies they could have bought with that money and how that would have added to their bottom line profits. Or they could have just given it away to charity. Steve Jobs wanted to change the world - that money could have eradicated Malaria across the world. Now that would be a legacy to be proud of.
Wasn't he the one pushing for all these stock buybacks? What good have they done for the stock?
You're asking these questions because you don't understand the stock market.
A lot of the stock is based on a company's potential to sell in the future. Apple has been losing ground to other companies since last year. There is also no hope of innovation in the near future with Mrs. Cook at the helm of the company. The only items we've seen is a stalling Apple Pay roll out, a mediocre watch which isn't doing very well in sales, and a failure in Apple Music.
The only way Apple's stock is going to go up again is if you see Tim Cook act like a visionary inventor, which isn't going to happen. If you own APPL stock sell it now. It was down $6 a share yesterday, and now $3 a share today.
What makes me angry about this story is not the profit Icahn has made. There are plenty of greedy bastards on Wall Street. No, what makes me mad is how much money Apple have wasted on share buybacks to please this guy and his mates. That is a criminal waste of money. It could have been spent on long term investments that would have bolstered the share price long term. Think of all the companies they could have bought with that money and how that would have added to their bottom line profits. Or they could have just given it away to charity. Steve Jobs wanted to change the world - that money could have eradicated Malaria across the world. Now that would be a legacy to be proud of.
I didnt know who this guy was and googled his name but ended up on a wikipedia entry about greed.
Now the money is starting to talk maybe Apple will listen instead of constantly trying to convince themselves about the dreadful aberration the company has morphed into. You can feel the elevator shifting, the nose tilting towards the ground and Apple executives thinking about parachutes. We will be left in the pieces.
Billionaire Carl Icahn, who has been buying large amounts of Apple stock over the past three years, today told CBNC that he sold his stake in the company.Icahn, who sold his shares earlier this year, said that he did so based on worries over China's attitude towards Apple. Earlier this month, the Chinese State Administration of Press, Publication, Radio, Film and Television forced Apple to take down the iTunes Movies and iBooks stores, and Chinese officials believe that Apple is "too deeply established" in core industries in the country.![]()
Apple sales also fell 26 percent in greater China in the second quarter of 2016.Prior to exiting his position, Icahn held 0.8 percent of outstanding shares. He told CNBC that he made approximately $2 billion on Apple and that he continues to view the stock as "cheap."
Apple shares have been on the decline since Tuesday's earnings call, where the company announced its first ever drop in iPhone sales and its first year-over-year revenue drop in 13 years. Apple stock is down approximately 2 percent today.
Article Link: Investor Carl Icahn Dumps Apple Shares Over China Concerns
This.
What's the next big thing for the iPhone besides "thinner / worse battery"?
What's the roadmap for the iPad besides "treat it like a big iPhone with a pencil"? They refuse to do a proper tablet OS. Tim Cook has gone on record saying the iPad is the future of personal computing – okay, then why are you still doing Mac OS? Where are your balls to commit? Steve Jobs killed other product lines for less. I would hate if they did this, but it just goes to show they don't any direction and are afraid to commit – which is killing us slowly with mediocrity.
You are right, it would not be easy. But if the started with some lines, it would be a huge threat. Also labor in India is cheaper than China. In the long run with the mountains of cash Apple has it could be done. The plus be dealing with a much more friendly government to business and to the U.S. I know all manufacturing can't be move to the U.S. but some would be good both for our job situation here and great P.R. as well.It's not that easy nor simple to do...
Wasn't he the one pushing for all these stock buybacks?
To Apple's credit, they've ridden a wave of hype for years. Complacency was bound to set in, temping them to coast while engaged in serious profit taking.All these doom and gloom articles on Apple, I.e. Revenue decline, iPad Deflation, Apple Watch decline, a tragic dear in Cupertino, now shares being sold. Anything positive today on Apple? What's next, Tim Cook resigns?
![]()
![]()
.... Please tell me you're kidding.
Apples stock also routinely went down after earnings calls when Steve Jobs was at the helm.
Yeap, this is a sign of things that may come. Seems to be the Chinese government may pressure Apple to not use Foxconn so much then? And you don't want to annoy them as they do what they like, I believe they still imprison and torture those who openly oppose them.
I think China has Apple over the proverbial barrel.
I agree. What a repulsive, greedy greedy greedy man!Billionaires! A way of life I'll never understand.