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Billionaire Carl Icahn teases letter to Apple CEO Tim Cook to promote new website

post #1 of 43
Thread Starter 
Well-known investor Carl Icahn has sent a letter to Apple Chief Executive Tim Cook continuing to push for a larger share buyback, and the billionaire plans to divulge the contents of the letter on a new website he will launch this week.

Icahn


Icahn took to Twitter to promote his new website, and also to tease that the letter to Cook will be published on "Shareholders' Square Table" when it launches on Thursday. As of Wednesday, the site simply advertises that it is coming soon.

The investor declined to reveal anything about the contents of his letter to Cook, but an unnamed source revealed to CNBC that the note is part of Icahn's continuing efforts to persuade Apple to initiate a larger buyback of its own shares. In return for accepting his pitch, Icahn has reportedly offered an "unknown pledge."

Apple already has a plan underway in which it will spend a total of $100 billion through 2015 on share buybacks as well as dividend payouts. But Icahn believes Apple should increase its share buyback program and spend $150 billion on its own shares.

Icahn is said to have about a $1.5 billion stake in Apple. While that's a considerable sum, it would not put him among the company's largest shareholders, particularly institutional investors with significant stakes.

Icahn


But Icahn's reputation on Wall Street gives him considerable sway -- enough to land him a private dinner with Cook and Apple Chief Financial Officer Peter Oppenheimer in New York last month. Talks between the three men reportedly became "a little testy" at times, though Icahn also characterized the meeting as "cordial."

Though he has publicly said he believes shares of AAPL are "extremely undervalued," Icahn has a reputation for causing trouble with tech companies. He famously opposed Michael Dell's efforts to take PC maker Dell private, won three seats on Yahoo's Board of Directors, and is also credited with helping to force out the CEO of Motorola before the handset maker was bought by Google.
post #2 of 43

His pledge? He won't sell his shares for 10 years

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Apple Purchases last 12 months - iPhone 5S (two), iPhone 6, iPhone 6+ (two), iPadAir, iPadAir2, iPadMini2, AppleTV (two), MacMini, Airport Extreme, iPod Classic.
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post #3 of 43
and i think we're all looking forward to telling him to get bent.
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>>< drow ><<
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post #4 of 43

I guess that makes sense: Knights had a round table, there are round table discussions, so it’s only natural that… 

 

Wait a minute.

 

Anyway, Icahn’t believe he doesn’t just shut up and sell already.

post #5 of 43

CNBC - his own private publicity network, so wrong on so many levels

post #6 of 43
Quote:
Originally Posted by Tallest Skil View Post
 

I guess that makes sense: Knights had a round table, there are round table discussions, so it’s only natural that… 

 

Wait a minute.

 

Anyway, Icahn’t believe he doesn’t just shut up and sell already.

 

iCahn, unfortunately.

post #7 of 43
Offer to buy back HIS shares, I'm sure he'd be willing to get the ball rolling by offering them up.

Share buyback = debt or a massive tax bill if it is done too fast.
Better than my Bose, better than my Skullcandy's, listening to Mozart through my LeBron James limited edition PowerBeats by Dre is almost as good as my Sennheisers.
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Better than my Bose, better than my Skullcandy's, listening to Mozart through my LeBron James limited edition PowerBeats by Dre is almost as good as my Sennheisers.
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post #8 of 43
Apples response.

With 2% of the shares please piss off.

And if anybody thinks that Steve jobs and Tim
Cook are totally different this is proof. If Icahn had even started this with jobs he would be crying into his soup now.
I wanted dsadsa bit it was taken.
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I wanted dsadsa bit it was taken.
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post #9 of 43
People like Icahn have only one goal and that is to line their own pockets. It is inevitably at someones else's expense. He should be told to FOAD.
post #10 of 43
Quote:
Originally Posted by asdasd View Post

With 2% of the shares please piss off.

2%!? He has $1.5B of a $475B market cap company.
post #11 of 43

I'm sick of this clown.

Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #12 of 43

Apple buyback program is more than enough. No need to add more.

That guy should lobby the US gov on corp tax rates so apple can bring is cash home. At least that would be usefull

post #13 of 43
Quote:
Originally Posted by anantksundaram View Post

2%!? He has $1.5B of a $475B market cap company.

Right. Sorry. My mistake. My point still stands but stands taller.

Why did Cook even meet him? He's a lone gun man. Most institutional investors and normal investors aren't on his side, he leads no shareholders revolt.
I wanted dsadsa bit it was taken.
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I wanted dsadsa bit it was taken.
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post #14 of 43

Icahn is an a$$.

post #15 of 43

With Ichan's help Netflix went up 400%

The dude is smart and know how to manipulate Wall Street. 

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Apple Purchases last 12 months - iPhone 5S (two), iPhone 6, iPhone 6+ (two), iPadAir, iPadAir2, iPadMini2, AppleTV (two), MacMini, Airport Extreme, iPod Classic.
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post #16 of 43

With Apple no longer charging for the OS Upgrades, and giving away its own "Office Apps" (a dig to MSFT), I wonder if those moves could be characterized as a form of Buyback, which can be viewed as a way of re-investing in itself… Yes, one can get poetic with all that Wall St. terminology...

 

Recently I saw Buffet and ex GE CEO, Jack Welch, asked about Carl Icahn ideas on AAPL. Those guys expressed Confidence in Apple by saying something like - Apple knows what it's doing…, they don't need advice from Icahn or anybody! 

 

At 10/22/13 Keynote I've seen a lot of Confidence from Apple too. It looked real too me, as the presenters - The Men With The Plan! -  looked very Confident and Comfortable! The Wall St. is beginning to recognize that, although "they" already knew that there was nothing wrong with Apple. But then, Wall St. has its own "politics" and games to play!

 

We can only guess what Icahn's, or anyone's, Game Plan is for AAPL, or anything else! Eventually, he'll sell his AAPL or whatever else he owns, and someone will Buy… The Cycles of Life continue as usual… 

 

Seeing the Video about the New Apple Headquarters adds more to the Apple/APPL Confidence! When its built, it'll be a huge boost!

 

Apple's New Retail Chief seems like a Solid Choice! She projects a lot of Promise and very Warm Vibe! 

 

4K Video, 1 TB SSD HD on MacBook Pros, 128GB iOS Devices, 64Bit iOS,  iWatch, iTV are just the hints as to the Depth of Apple Things To Come! Eventually those Hardware and Software Specs Double and Improve in other ways:)! Rinse Repeat:)! "Sticky" Echo System:)!

 

Those who Sold their AAPL will have to live with their regrets! 

 

The True Blue Loyal Apple Fans will have lots to smile about for many years to come! 


Edited by macologist - 10/23/13 at 1:59pm

Go  Apple!!!

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Go  Apple!!!

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post #17 of 43
Quote:
Originally Posted by asdasd View Post


Right. Sorry. My mistake. My point still stands but stands taller.

Why did Cook even meet him? He's a lone gun man. Most institutional investors and normal investors aren't on his side, he leads no shareholders revolt.


Why did Cook even meet him? To paraphrase a line from The Godfather: "Keep your friends close and your enemies closer."

post #18 of 43
Quote:
Originally Posted by sog35 View Post

With Ichan's help Netflix went up 400%
The dude is smart and know how to manipulate Wall Street. 

Netflix was going up 400% without this charlatan's involvement.
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #19 of 43
Quote:
Originally Posted by CityGuide View Post


Why did Cook even meet him? To paraphrase a line from The Godfather: "Keep your friends close and your enemies closer."

When he request another meeting Cook should tell him to go **** himself.
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #20 of 43
Go away, Carl. Don't be greedy. You're in it for the money and not for the success of the company.
post #21 of 43

I don't understand guys like  Icahn.   How much money does anyone need?

 

I realize that very large investors do have some sway with the companies they invest in, but if you can convince a company to do what you want and you know they're going to do it and you buy or sell on that knowledge, isn't that insider trading?   If not, it should be.

post #22 of 43

Will this jack*** just go away.

post #23 of 43
Quote:
Originally Posted by sog35 View Post
 

With Ichan's help Netflix went up 400%

The dude is smart and know how to manipulate Wall Street. 


Icahn was lucky with Netflix.  Its fundamental business was already on the upswing when he bought into it. He cashed out after amassing a huge profit, and Netflix stock is tumbling now. He was not so lucky with Blockbuster.

 

So he knows how to manipulate Wall Street. That helps no one but himself and his firm, which exists solely to make money. His avowed position is to extract money from what he considers poorly-run companies. You'd have to stretch language to the tearing point to fit that definition over Apple.

 

The Icahn Lift is a term created for what he does to companies. It's not complimentary, as it described how the stock price fluctuates, usually wildly. Lesser analysts have been doing to this Apple for years, opining on rumors, suppositions and prognostications. Apple's fundamentals are pretty sound, but men like Icahn see only bushels of cash - not what it took to grow them.

 

If you want smart, listen to Warren Buffet: "I think the Apple management and directors have done a pretty darn food job of running the company...I do not think companies should be run primarily to please Wall Street and largely investors who are going to sell."

post #24 of 43
Def hope Apple doesn't bow down to Ican whom just wants to further line his packets and cares less about Apple's long term future.
post #25 of 43
Let us have a vote of share holders on whether we want Tim to listen to anything Carl ever says again or accept any more dinner invitations. 1biggrin.gif
From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
"Google doesn't sell you anything, they just sell you!"
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
"Google doesn't sell you anything, they just sell you!"
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post #26 of 43
Quote:
Originally Posted by sog35 View Post

With Ichan's help Netflix went up 400%
The dude is smart and know how to manipulate Wall Street. 

So you don't think Netfix having to adopt a poison pill defense against him reflects on what a wonderful asset they thought he wasn't?
From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
"Google doesn't sell you anything, they just sell you!"
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
"Google doesn't sell you anything, they just sell you!"
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post #27 of 43
This asshat is as bad as patent trolls; if not worst.
post #28 of 43
Quote:
Originally Posted by Ireland View Post
 

I'm sick of this clown.

 

Likewise. Icahn is a blowhole.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #29 of 43
Quote:
Originally Posted by sog35 View Post
 

With Ichan's help Netflix went up 400%

The dude is smart and know how to manipulate Wall Street. 

 

He's obviously no dummy, but he's still a grating personality.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #30 of 43
Don't be so quick to hate on Icahn. With the big drop in value last year, obviously Apple is no Wall Street darling and for a stock to go up, like it or not, it has to be a darling. Icahn can help with that. That is why Cook met him.
post #31 of 43
Apple got pushed down to $385 for no good reason, and Apple management was completely helpless., have you people forgotten that? The recent recovery is partly due to Icahn, like it or not, he has considerable sway on Wall Street. For us to keep going up, Icahn can help sway some of the 24/7 attack in Apple to something positive
post #32 of 43
For those who says Icahn manipulate Wall Street and only helps himself and his firm? Uh the only way he helps his firm is for the stock to go up. You think those netflix investors who were holding at $57 1 year ago and are now up 400% thinks Icahn only helped himself?
post #33 of 43
Quote:
Originally Posted by sog35 View Post

With Ichan's help Netflix went up 400%
The dude is smart and know how to manipulate Wall Street. 

Quote:
Originally Posted by CityGuide View Post


Icahn was lucky with Netflix.  Its fundamental business was already on the upswing when he bought into it. He cashed out after amassing a huge profit, and Netflix stock is tumbling now. He was not so lucky with Blockbuster.

So he knows how to manipulate Wall Street. That helps no one but himself and his firm, which exists solely to make money. His avowed position is to extract money from what he considers poorly-run companies. You'd have to stretch language to the tearing point to fit that definition over Apple.

The Icahn Lift is a term created for what he does to companies. It's not complimentary, as it described how the stock price fluctuates, usually wildly. Lesser analysts have been doing to this Apple for years, opining on rumors, suppositions and prognostications. Apple's fundamentals are pretty sound, but men like Icahn see only bushels of cash - not what it took to grow them.

If you want smart, listen to Warren Buffet: "I think the Apple management and directors have done a pretty darn food job of running the company...I do not think companies should be run primarily to please Wall Street and largely investors who are going to sell."

Lucky with Netflix? When you have Icahn track record there is no such thing as luck.

Like it or not , Apple is hated by Wall Street and was pushed to $385 for absolutely no good reason.

Icahn can help that negative sentiment around and already has with recent recovery. He did same with netflix.

I respect buffet but he does not own one share of Apple
Stock so listening to him on Apple is stupid.
post #34 of 43

Just so you know, I also wrote a letter.  I'll be debuting a new Web site featuring this letter any day now.  Stay tuned.  Feel free to let the WSJ know.

post #35 of 43
Assuming people on this thread are shareholders then we should be thankful for Icahn being an activist in this stock. Do we not want the stock to increase? It is deemed a growth stock thus it should grow -- which it has not during the strongest bull market. If management had better managed operations for earnings growth and balance sheet for shareholder value then activists like would have not accumulated shares to pressure management. Board needs to keep management focused on delivering shareholder value. No need to insult financiers for identifying areas where management can better manage cash. Fact that market continues to undervalue business is troubling especially when the market is hitting all time highs and other companies valuations are trading at record upper ranges. Counter argument that management should focus on building great products and services is flawed because their annual product refresh cycles on limited product lines have not increased earnings growth. Counter argument that management knows better to do with cash is flawed because they do not when buybacks are funded by future operating cash flows.
post #36 of 43
Boycott his site, get blogs to do the same. No more mentions of him, it, links to it.

Dude needs to chill. If he doesn't like how Apple is going, sell the stock.

A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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post #37 of 43
Quote:
Originally Posted by clearblueskies View Post

Assuming people on this thread are shareholders then we should be thankful for Icahn being an activist in this stock. Do we not want the stock to increase? It is deemed a growth stock thus it should grow -- which it has not during the strongest bull market. If management had better managed operations for earnings growth and balance sheet for shareholder value then activists like would have not accumulated shares to pressure management. Board needs to keep management focused on delivering shareholder value. No need to insult financiers for identifying areas where management can better manage cash. Fact that market continues to undervalue business is troubling especially when the market is hitting all time highs and other companies valuations are trading at record upper ranges. Counter argument that management should focus on building great products and services is flawed because their annual product refresh cycles on limited product lines have not increased earnings growth. Counter argument that management knows better to do with cash is flawed because they do not when buybacks are funded by future operating cash flows.


Completely agree! People screaming about Ichan must have forgotten how Apple dropped to $385 in the midst if the stronger bull market FOR NO GOOD REASON and management sat by helplessly?

With Icahn involved, people will be less likely to mess around with Apple because they know Icahn will destroy them. ( see Bill Ackman)
post #38 of 43
Quote:
Originally Posted by charlituna View Post

Boycott his site, get blogs to do the same. No more mentions of him, it, links to it.

Dude needs to chill. If he doesn't like how Apple is going, sell the stock.


Would you like to go back to free falling to under $400 for no reason? There is a reason for recent recovery and less people messing with the stock! Why do you think that is? They suddenly love Apple? Or They know Icahn wii call them out?

Is he without baggage? No but with him involved, Apple now has a chance to trade closer to its valuation like we all want
post #39 of 43
Quote:
Originally Posted by castcore View Post


Would you like to go back to free falling to under $400 for no reason? There is a reason for recent recovery and less people messing with the stock! Why do you think that is? They suddenly love Apple? Or They know Icahn wii call them out?

Is he without baggage? No but with him involved, Apple now has a chance to trade closer to its valuation like we all want

 

My hunch is the reason AAPL went to under $400 was precisely so people like Icahn could obtain this sort of leverage over Apple.  They orchestrate campaigns of negative press and rumors (see http://www.youtube.com/watch?v=c6gxPCurDJs), likely profit by shorting the stock, and probably buy it cheap to profit when it bounces back.  I don't see how these shenanigans are helpful to investors who aren't in on it, not to mention the companies that are manipulated.

post #40 of 43
Quote:
Originally Posted by AndreiD View Post

Is this guy a jew?

Conflating financial parasitism with Judaism (historically due to the economic position Jews in Europe were forced into because of Christian prohibitions on lending with interest) feeds noxious ideologies, and obscures the actual parasitism very often played by finance capital, no matter the ethnicity of the players.  It is not biological, and memes to that effect work for the parasites, who will sociopathically sacrifice a group of people by manipulating public opinion to protect their own financial interests.

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