toggle

AAPL Stock: 109.27 ( -1.1 )

Printed from http://www.macnn.com

Icahn pushes for $150B stock buyback during dinner with Apple CEO

updated 11:21 am EDT, Tue October 1, 2013

Talks to continue later this month

Carl Icahn pushed for an expanded, $150 billion Apple share buyback during his dinner with Tim Cook yesterday, according to a Twitter post by the influential investor. "Had a cordial dinner with Tim last night," Icahn wrote. "We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks."

Apple is already in the middle of a buyback plan that will cost it $60 billion by the end of 2015. Icahn, however, has argued that Apple shares are undervalued, and that the plan could grow further. He has a significant profit motive in increasing buybacks, since he recently invested about $1.5 billion in the company. News of the transaction briefly sent Apple shares back over the $500 mark.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented