Carl Icahn Tweets Again, Apple Stock Buyback Imminent
“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.
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