Ondrej Holzman Having Carl Icahn, a shark investor, as one of the shareholders is no mean feat. Tim Cook, whom Icahn constantly urges to increase the volume of share buybacks, certainly knows about this. Now Icahn revealed on Twitter that he bought more shares of the Californian company for half a billion dollars, in total he already has more than three billion...
Icahn on Twitter he said, that for him another investment in Apple was a clear matter. At the same time, however, he took a dig at the company's board of directors, which, according to him, harms shareholders by not increasing funds for share buybacks. Icahn intends to comment on the whole matter in a more comprehensive letter.
Icahn has been claiming that Apple shares are undervalued for several months. For the same reason, he has been calling for Apple to start buying back its shares on a large scale and thereby increasing their price. The last time the 77-year-old businessman spoke in October last year. His position as a strong and potentially influential shareholder can also be felt from the fact that Apple CEO Tim Cook even met with him personally.
During the 2013 fiscal year, Apple spent $23 billion on share buybacks out of a total of $60 billion. which were reserved for these purposes in April last year. Icahn even presented a proposal to shareholders to increase the program, but Apple, as expected, advised investors to reject the proposal. Apple is said to be considering similar steps themselves.
Dude, inviting Tim Cook to the carpet is really cool...