Proxy advisory firm recommends siding with Apple against Icahn
0. phoneArena 09 Feb 2014, 20:16 posted on
On February 28th, Apple stockholders will vote on a proposal by investor Carl Icahn that Apple buy back $50 billion worth of its stock. Icahn, who owns more than $4 billion of Apple shares, originally wanted Apple to buy back $150 billion of its stock before cutting his demands. ISS says that tjhe proposal would "micromanage the company's capital allocation process."...
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1. jellmoo (Posts: 356; Member since: 31 Oct 2011)
They sold 4 billion fewer phones than expected? I know Apple sales are great, but maybe billion isn't the right word there.
4. cnpthe3rd (Posts: 46; Member since: 01 Feb 2009)
read it again, it says "Apple sold 4 million fewer iPhones than Wall Street expected last quarter."
3. lyndon420 (Posts: 1469; Member since: 11 Jul 2012)
Doesn't really say much for a company when investors want to dump their investment in said company. The idea is to make money on your investment. I'm sure that this should turn around for them once they reinvent themselves into a company with more vision towards the future.
7. Finalflash (Posts: 883; Member since: 23 Jul 2013)
Well they are doing fine money and product sales wise, wall street is a different animal though. They want to constantly make money and at this moment that really isn't happening. Apple has kept their stock price propped up by buying back stock during this lull in their "innovation". Goes to show even Apple knows their current smartphone line up isn't compelling. Wall street just wants to make money for no effort of their own at all times so they will keep pushing for this kind of stuff.
8. kindlefireowner (Posts: 275; Member since: 05 Dec 2011)
This article is above Fandroids heads, and left out some important facts. Apple sold 51 million iPhones for the quarter. Which is the most iPhones they ever sold in a quarter. Also, this article is about Apple sharing the $150 billion dollars in profits with their shareholders. Apple is only sharing $15 billion. So this is not an article about Apple falling off. Ichan wants some of that $150 billion dollars of profit that Apple has banked.