Citing concerns in China, activist investor Carl Icahn no longer owns shares of Apple

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Comments

  • Reply 61 of 116
    sog35 said:
    AAPL has broken below $95 and possibly headed toward $90. The Icahn announcement will surely add to the selloff action. Incredible amount of negative activity around the stock.

    Also, I think Icahn is not wrong about China. China is a real threat to Apple's growth plans, plus if Trump gains the presidency (or even Hillary, for that matter), I predict a real ramp up in protectionist policies for the US, which will directly impact Apple.
    strong support is $92

    If that breaks then we could easily go to the mid/low $80's.

    China has always been a threat. This isn't anything new. This is more about Tim Cook's failure.

    A company like IBM has had shrinking sales for TEN YEARS STRAIGHT and it still has a higher PE ratio then Apple. That is absolutely PATHETIC and lies squarely on the CEO. 

    If this was a one time freak even then I would give Cook a pass. But Apple has been severely undervalued by Wall Street for his entire time as CEO. Its time for a new face. A new vision. 

    and your buy at $99 is clearly screwed unless you are scaling in , I agree with your $92 support. I'm going to wait till it breaches below that $91 before risking any money and only buy a 1/3 even then, if it drops more another 1/3  at 85 if it rises thru 95 another 1/3.
    kevin kee
  • Reply 62 of 116
    cm477 said:
    Interpretation: Now that he doesn't have a long position (and might be short), he now needs to depress the stock price to buy back shares. Hopefully this weakness is temporary as the big funds (aka sheep) trim their positions, and the stock price never comes back enough for Icahn to get back in.
    You cannot short the stock unless you own the stock. Icahn no longer has a position in AAPL.

    excuse me but you can short a stock without owning it, you do need margin in your account of course
    kevin keeanantksundaram
  • Reply 63 of 116
    nolamacguynolamacguy Posts: 4,758member
    hmlongco said:
    Every time the stock swings you jump on this board and bash Cook. Not the product line. Not the R&D. Not the board. Not the street.

    Not Federighi or Ive or Cur or Schiller.

    Just Cook.

    You claim it's due to his "incompetence" as a CEO, but even today Apple's stock is worth over twice what it was worth when Tim took over as CEO, and has still outperformed the S&P 500 over the same period by about 800%.

    I'm sorry, but it looks to me as if your issue with Cook is more "personal" in nature...

    I just don't see the same level of creativity since Tim started in that role.  

    One main complaint I have-- for a CEO that now wears glasses, I find it very strange and odd that every new Macbook released happens to be very tiny.  

    I was talking with an Apple Genius about buying a new Mac last week, I can't afford to give up a 17" screen...  I still have to use my 17" Macbook due to my vision.   At the end of the conversation (where I didn't buy anything at the Apple Store)  the Apple Genius (who also wears glasses) and I agreed that Tim Cooks' glasses are designer, non-prescription;  "window dressing".
    you believe he's wearing fake glasses? that's insane. 

    londorkevin keecalijax44singularity
  • Reply 64 of 116
    sog35 said:

    Based on sales/profits?  Sales/profits are SHARPLY down this quarter. And will sharply down AGAIN next quarter.

    You should look for more of a trend over a few years.
    iPhone 6 plus was an anomaly. 3 years of pent up demand. Nobody could have bested that.
    Compared to 2014 profit and sales are much higher.

    -isn't that what you were saying yesterday?
    londorkevin kee
  • Reply 65 of 116
    nolamacguynolamacguy Posts: 4,758member
    blitz2 said:
    sog35 said:
    Agree 100%

    What has Tim done with the iPhone the last 3 years:

    1. Add TouchID/ApplePay - that was Steve Jobs
    2. Made the phone bigger
    3. Made the phone gold
    4. Made the phone thinner

    Thats it.

    iPad?  Thinner, Gold, pencil. That's it.

    Watch is okay but nothing mind blowing.

    Mac? Thinner, Gold. That's it.


    Are you the same sog35 today than yesterday's sog35?
     :D  :D :D
    oh, the one who said Apple is a stock to sit on and stop trying to micromanage? makes ya wonder. I'm thinking some sort of personality disorder is at play here. 
    drewys808londorkevin keepalomineroundaboutnowpropod
  • Reply 66 of 116
    kevin keekevin kee Posts: 1,001member
    sog35, I feel pity for you. Just go outside and take a deep breathe. Blacksheeping Tim Cook won't change anything.
    edited April 2016 londorSpamSandwichsingularity
  • Reply 67 of 116
    focherfocher Posts: 640member
    sog35 said:
    Tim Cook wasted $115 BILLION in shareholder money in the buyback. 
    He did it because of pressure from Ichan.
    The stock has gained NOTHING in valuation from that waste of money.

    Before the buyback Apples was worth over $700 billion.
    Now after wasting $115 billion in cash its worth a pathetic $530 billion.

    But go live in a fantasy world all you want.

    All I know is Cook authorized this $115 billion buyback and the stock is worth $170 billion less.
    Hard to ever take you seriously when you don't even comprehend the basics of how a company is run. Tim Cook didn't authorize a single buyback, the board of directors did.

    You shouldn't care anyway, having said repeatedly that you had sold all your AAPL.  For those of us who are long on AAPL, we're pretty happy with the continued capital buyback. I look forward to an increasingly smaller pool of shares that can be manipulated by day traders and other short time investors.
    kevin kee
  • Reply 68 of 116
    sflocal said:

    Just.Be.Quiet.
    More chance of Trump announcing he is undergoing gender reassignment surgery
    Hmm, well that would fix his 'female voter' problem.
    ai46singularity
  • Reply 69 of 116
    hmlongcohmlongco Posts: 170member
    sog35 said:

    Tim Cook threw away $115 billion in shareholders CASH so Ichan could make a couple hundred million in flipping his shares.
    If Ichan sold today as announced then he did it after the drop.

    And if the share buyback did "nothing", as you indicated above, then how did Ichan profit from it?

    For that matter, you have no clue whatsoever what the stock price might be today if Apple hadn't done the stock buyback. The same? A lot less? The buyback program might not have raised the stock into the stratosphere, but it might also have done its share to keep it out of the dumpster.

    Either the buyback benefited Ichan by raising/maintaining the stock price, or it failed and did nothing whatsoever (thereby NOT benefitting Ichan). You can't have it both ways.
  • Reply 70 of 116
    mwhitemwhite Posts: 187member
    sog35 said:
    lkrupp said:
    This is absolutely wonderful news! Icahn has sucked the blood out of many a successful company and left the carcass to rot in the sun (see his gutting of TWA). Finally his fangs are out of Apple!
    agree.

    I'm happy he's gone.

    But still Tim Cook got totally played by Ichan. He convinced Apple to do the buyback. Apple bought back $115 billion in shares and it did NOTHING to help its valuation. Ichan sells his shares for hundreds of millions in profits. Apple is stuck with $115 billion less in cash and $60 billion in debt.

    Personally I'm sick of this mismanagement in capital by Tim Cook.

    For wasting $115 billion alone he needs to be fired.
    sog why don't you go sog yourself!
    caliai46singularity
  • Reply 71 of 116
    foggyhillfoggyhill Posts: 4,767member
    hmlongco said:
    sog35 said:

    Tim Cook threw away $115 billion in shareholders CASH so Ichan could make a couple hundred million in flipping his shares.
    If Ichan sold today as announced then he did it after the drop.

    And if the share buyback did "nothing", as you indicated above, then how did Ichan profit from it?

    For that matter, you have no clue whatsoever what the stock price might be today if Apple hadn't done the stock buyback. The same? A lot less? The buyback program might not have raised the stock into the stratosphere, but it might also have done its share to keep it out of the dumpster.

    Either the buyback benefited Ichan by raising/maintaining the stock price, or it failed and did nothing whatsoever (thereby NOT benefitting Ichan). You can't have it both ways.
    Since we can't really know either way, it's a bit of pointless speculation. It reduces the amount Apple pays in dividend (unless they raise it), so that's money saved :-).
  • Reply 72 of 116
    Rayz2016Rayz2016 Posts: 4,569member
    sog35 said:

    I'm not going to waste anymore time on Wall Street bullshit.

    Well that didn't last. 
    blitz2ai46nolamacguySpamSandwichsingularity
  • Reply 73 of 116
    I agree that Apple should not have buyback and just kept the cash.
  • Reply 74 of 116
    tallest skiltallest skil Posts: 43,399member
    Hmm, well that would fix his 'female voter' problem.
    He has 55% of them in the primaries, so I doubt he has one.
    SpamSandwich
  • Reply 75 of 116
    freerangefreerange Posts: 1,586member
    Now we know why the slide has been so deep - it was Icahn dumping his shares....
    pscooter63ai46
  • Reply 76 of 116
    Apple is worth more as a company than the current stock valuation. Unless one truly believes that Alphabet/Google can up their game and steal the high end of the mobile market that Apple is clearly playing in. 

    The street seems to think that Google's model is better than Apple's and it has shown in the valuation of the companies. However, it is clearly not the case and will become quite apparent moving forward. Google has many fires to attend to and any of them can flare out of control, putting the entire company at risk. Oracle and the European lawsuits are the most problematic, but Facebook is assaulting Google's very lifeblood in its ad revenue model. 

    Tim Cook may be a master of the supply chain, but he clearly hasn't executed the finished product well. 

    It may all be contractual or limitations due to the high volumes that Apple requires
    for their mobile devices. 

    However, the lower end mobile devices have excellent cameras and the high end devices like the Galaxy S7 clearly have have better optics. Apple should have Samsung build the optics for the iPhone and not Sony. Cook should also have locked up Samsung to build the iPhone displays. The JDI built displays aren't bad, but the OLED panels on the Samsung are clearly superior. 

    I will not use Android, but much of the public have no idea of the problems in Android and willing to purchase the Samsung due to what their eyes can see, and the optics on the Samsung and LG devices are clearly superior. 

    Don't even get me started on the MacBook and Apple's stubborn refusal to provide an ARM option. Building an Intel option is fine, but an ARM option would allow iOS software to run natively and bring iOS developers potentially to OS X running on ARM. I would be interested in such a machine. Intel inside is a total no go for me. Development is clearly moving to ARM in droves. x86 is legacy junk and very little development is going on for that platform. And for non Windows x86? There's essentially no development. 

    Apple clearly has the reach on iOS to build software services and monetize the services far better than Facebook and Google. And I believe it is coming. However, Cook has little expertise in software and it shows. He either needs to step down, or find someone that can bring new ideas and software sercives to the iOS platform. 

    Then there's the data group/server farms. While I am certain that Apple has a plan in place and implementing it, they should already have built out their server farms. Unless they are going to release a new technology that is superior to the current hardware availability and the high costs involved. In short, perhaps there is a plan to build out Apple's cloud but based on an upcoming ARM chip developed internally that outperforms Intel's Xeons at lower power and lower cost. Such a development would allow Apple to develop a solution superior to AWS, Google and Azure. 

    So I am content to wait and let the emotionalism drive Apple stock to even lower prices. I will be buying, as Cook seems unusually optimistic and upbeat unlike BK at Intel who appears lifeless and downtrodden or Pichai at Google who seems to be acting out of desperation. Nadella at MSFT seems assured, but only Cook seems optimistic. That's good enough for me. 

    I remember the days of Apple when Jobs introduced the iPod. The atmosphere was far more somber. Yet Apple performed admirably. They will again. 
    calianantksundarampalomine
  • Reply 77 of 116
    Hmm... this could be the news behind the news. Surely Icahn leaked this beforehand and it multiplied the selloff in AAPL. He can't keep his mouth shut when it comes to his own stock manipulation tactics.

    If Apple continues the buyback, they should be buying it all back now when it's undervalued.
    Yeah, god forbid they spend that money on, you know, developing a revolutionary new battery technology or on figuring out a way to fit two ports on the new Macbook. 
    anantksundaram
  • Reply 78 of 116
    monstrositymonstrosity Posts: 2,202member
    If Icahn sells, it's time to buy, and vice versa.
    palomine
  • Reply 79 of 116
    He was never in it as a pure stock investment. He wanted to manipulate a quick return by forcing the company to do unusual things that only those with sizable holding would benefit from. More importantly he had his eyes on the big pile of cash Apple had and was trying everything he could to get them to give it all to the investors. When Apple financed their stock buybacks because it was cheaper than spending cash it pretty much killed his ambitions. 
    In the future, if there is ever a shareholder push to remove Cook, it will have nothing to do with the direction Apple is going with its products or as a company. It will be solely to try to install a CEO that will raid the company's cash and spend it on the shareholders and pointless acquisitions from close associates. 
    ai46calipalomine
  • Reply 80 of 116
    Hmm... this could be the news behind the news. Surely Icahn leaked this beforehand and it multiplied the selloff in AAPL. He can't keep his mouth shut when it comes to his own stock manipulation tactics.

    If Apple continues the buyback, they should be buying it all back now when it's undervalued.
    Yeah, god forbid they spend that money on, you know, developing a revolutionary new battery technology or on figuring out a way to fit two ports on the new Macbook. 
    They could employee every expert and researcher in the world on battery technology and not spend money faster than they are making it. Spending money is not their problem. Talent is so hard to find they are having to painstakingly recruit it from other companies. 
    palomine
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