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Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed

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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'.
Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude.
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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
 
Article Link
https://www.macrumors.com/2013/08/22/investor-carl-icahn-to-have-dinner-with-tim-cook-magnitude-of-share-buyback-to-be-discussed/
Damn. And someone paid more than $500,000 just to have a cup of coffee with him let alone dinner.
 
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.
 
I cannot fathom wanting to do these things over dinner. Why eat at these things. That always bugs me.
 
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. :D
 
Icahn has influence?

I guess it makes sense..

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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.
 
alms said:
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.
Click to expand...

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.
 
alms said:
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.
Click to expand...

The rest of us buy Apple stock to frame it and put it on our walls.

Apparently.
 
Dwalls90 said:
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.
Click to expand...

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.
 
Peace said:
Huh ? How is he asking Apple to raise the price ?
Click to expand...

"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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