Because that's what share buybacks do. Reduction in number of shares outstanding at presumably the same demand = higher price per share. And since he's publicly announced his intention to agitate for big share buybacks, next saying he'll meet with Cook to discuss the magnitude could cause investors to pile into Apple ahead of that payday.
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Investor Carl Icahn to Have Dinner With Tim Cook, 'Magnitude' of Share Buyback to Be Discussed
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Because that's what share buybacks do. Reduction in number of shares outstanding at presumably the same demand = higher price per share. And since he's publicly announced his intention to agitate for big share buybacks, next saying he'll meet with Cook to discuss the magnitude could cause investors to pile into Apple ahead of that payday.
Not if they disclose the results of their meetings before Carl Icahn doesn any trades.
It has nothing to do with supply and demand. Reducing the number of shares outstanding raises the EPS.
A 0.5% holding in AAPL may get you dinner with Tim Cook, but it doesn't give you any leverage.
Based on past history, it's always pump and dump. I don't know of any company that benefited in the long run from his investments.
Whether you believe it's a conspiracy or a money grab, share buyback is exactly what Apple should do to increase value for shareholders. The stock is currently undervalued and any company would be wise to buy back its own stock when they can on the cheap (and have billions in cash lying around).
I'm sure Cook would have dinner with any large stockholder. I hope he tells Carl to go **** himself. As it is, Tim can't provide him any information we don't have but will listen to Icahn. As said, Icahn is no friend of Apple or us shareholders. He's also not even that large an investor relative to other larger holders.
I'm sure all he wants is for Apple to buy back more shares and give back more to shareholders while taking on more debt. I'm also sure Apple will not alter any plans they have for share buybacks and increased dividends because Icahn wants it.
I'm sure all he wants is for Apple to buy back more shares and give back more to shareholders while taking on more debt. I'm also sure Apple will not alter any plans they have for share buybacks and increased dividends because Icahn wants it.
Agreed. Tim Cook should not be having dinner with any investor. I'm sorry but that just reeks of insider trading information. In fact, it shouldn't be allowed.
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Any discussion is information that others don't have...which is insider information. He shouldn't be meeting with him or even having a phone call with him.
Careful, you're on your way to the Dark Side of conspiracy theorists. Only a sith deals in absolutes.
I hope he tells Carl- thanks for your investment. Let it be known, you are NOT welcome to micromanage this company. If you're not comfortable with that... please keep your $.
I guess I'll just have to say it.. It would have been a cold day in hell when Steve Jobs would ever have dinner with a pirate raider investor like Carl Icahn. I can just imagine the conversation. ' Now Tim, I don't like the direction you're taking The Company and here is what my expectations are. If its not to my satisfaction, we will buy a majority of shares and bounce you out with a hostile takeover attempt' . This guy is poison and the Board of Directors and general stockholders will find out soon enough his intentions.
By that logic any employee or board member of a corporation can't hold stock, because they all have insider information. Sorry, but your logic is grossly flawed.
I hope that's essentially what Tim Cook tells him. It does feel like Icahn is giving unsolicited and overbearing 'advice'.
In fact, since everyone that has had or will have dinner with Tim Cook is either 1) An AAPL Shareholder or 2) a potential future AAPL shareholder (that goes for shorts), he should not be allowed to have dinner with anyone ever again.
Regardless of Ichans proposed buyback I'm pretty confident that a large share buyback will happen.
And Ichan shouldn't be given any credit for that 'plan', when it happens.
And Ichan shouldn't be given any credit for that 'plan', when it happens.
I'm sure no one would have accused him if he initiate his influence on the price of AAPL stock before he starts buying 1 billion of the AAPL stock.
Neither would anyone accuse him if he initiates his influence several years after he had bought and held that 1 billion dollars of stock.
Putting up all of the pressures immediately after buying the stock? His intention of making fast money is SO OBVIOUS, and he is SO EAGER to DUMP these stocks after he gets the target price via these off-the-stock-exchange methods.
By buying shares back, the value of current shares is bound to increase (supply and demand). So by making the buyback program bigger, he expects share prices to raise above the price he initial paid.
In essence, share price manipulation.
Nothing to do with "supply and demand." See above.
Not share price manipulation, in essence or otherwise.
Any investor = anyone with enough money to potentially buy or short one AAPL share... or even other stocks that are related to AAPL indirectly. Sure Tim Cook could avoid meeting anyone if you want to be careful.