Carl Icahn Tweets Again, Apple Stock Buyback Imminent

By
A A A

Carl Icahn personally broke the news that he took a major stake in Apple ( AAPL ) last week using his new Twitter account. Today, he updated his followers about his push for a large share buyback, tweeting:

"Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude."

Apple's share price increased about 0.78% since Icahn's tweet, and is up 0.09% overall today.

Icahn last spoke of his involvement with Apple on August 13. He posted two messages into the Twittersphere that day:

"We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come."

"Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly."

In the third quarter, ended June 29, 2013, Apple returned $18.8 billion in cash to its shareholders through dividends and share repurchases, after ending the first quarter with a gargantuan cash balance of $145 billion. Apple just recently made history with the size of its share buyback, authorizing $60 billion through year-end 2015. Read more about Icahn and Apple here .



Interested in GuruFocus Premium Membership? Try it free for 7 days .

Read More:


About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AAPL

GuruFocus

GuruFocus

More from GuruFocus:

Related Videos

Cheap Ways to Sleep Better
Cheap Ways to Sleep Better          

Stocks

Referenced

Most Active by Volume

72,608,349
  • $16.155 ▼ 0.03%
22,528,611
  • $101.32 ▲ 0.74%
15,191,984
  • $60.113 ▲ 7.90%
13,240,021
  • $10.619 ▲ 9.02%
12,909,761
  • $99.064 ▲ 0.17%
11,948,379
  • $50.99 ▼ 0.16%
11,916,497
  • $74.38 ▼ 0.25%
10,486,151
  • $31.9999 ▲ 7.67%
As of 8/22/2014, 12:13 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com