Former corporate raider Icahn now owns $2 billion of Apple's stock

Former corporate raider Icahn now owns $2 billion of Apple's stock
Continuing his crusade to get Apple to make a tender offer and buy back $150 billion of its shares, investor Carl Icahn now own 3.9 milion shares of Apple with a value of $2 billion. Throughout his career, Icahn's game plan is to find a company he believes is undervalued, buy a ton of its stock, and try to force the company into making changes to bring the stock up. And if Icahn can't force management to do anything, well, just the mere mention that he has bought a company's shares is good for a pop in the price.

Icahn has already met with Apple CEO Tim Cook and discussed the idea of Apple borrowing $150 billion at what would be extremely favorable rates, and then using the cash to buy $150 billion of Apple stock, essentially retiring those shares. With the number of shares outstanding reduced, earnings per share rises and the stock follows.

Following a dramatic decline in its shares from an all-time high at $710 set on the day that the Apple iPhone 5 launched in 2012, Apple's shares were nearly cut in half  this summer, before embarking on its latest rise to a current price of $528. 

source: USAToday

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30 Comments

1. Gemmol

Posts: 793; Member since: Nov 09, 2011

he is not good for any compajny

15. downphoenix

Posts: 3165; Member since: Jun 19, 2010

how is this guy not in jail?

26. Pancholo

Posts: 380; Member since: Feb 27, 2012

Money?

2. N5110

Posts: 13; Member since: Apr 26, 2013

Creepy face like senator palpatine

9. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

Lol I see what u did there +1

22. ePoch270

Posts: 193; Member since: Sep 26, 2013

Creepy face like EVERY senator ever!

3. Ashoaib

Posts: 3260; Member since: Nov 15, 2013

I am seeing a devilish smile on his face... seems like he is upto something creepy... these type of people usually make their fortunes on the losses of normal people... black face of capitalism

7. terabyteRouser

Posts: 457; Member since: Oct 18, 2011

clearly this guy is not black... care to clarify?

8. luco33

Posts: 1; Member since: Nov 15, 2013

troll or moron ?

11. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

Of like him to clarify as well. How about the face of capitalism instead. +1

14. tedkord

Posts: 17094; Member since: Jun 17, 2009

Its just an expression. Like black heart means evil and black hat signifies bad guy. Not every negative use of the word black is rooted in race.

16. terabyteRouser

Posts: 457; Member since: Oct 18, 2011

Somebody by the name of Dr. Martin Luther King Jr. would disagree with you. http://goodmenproject.com/in-good-faith/the-mlk-that-never-gets-quoted-dont-let-anybody-take-your-manhood/

20. McLTE

Posts: 922; Member since: Oct 18, 2011

Seriously.. get over it. Black face = dark side. No race reference at all. It's 2013.. time to let go? I realize that racism is a serious thing and I'm about as un-racist as one can be. but I also have common sense. By throwing out the race card on something as trivial as this, you're not helping anyone - your just watering down the issue. Save it for times when it really matters.

23. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

The very definitions you just gave indicate otherwise. Why is it black is used to signify evil? Day, cat, hat, eye, Tuesday, male, and sheep all change to evil or bad things, when black is placed in front of them. Please don't shove that cliché stuff down my throat dude.

25. VZWuser76

Posts: 4974; Member since: Mar 04, 2010

It's been that way long before the race issue came about. People used to fear the night. Things like unexplained noises at night were attributed to ghosts. People who practiced magic did so at night. There are references to dark or black being evil since the beginning of time, even in the bible. Your name comes from Star Wars, and the villians were part of the dark side of the force. Does that mean that George Lucas is a racist? While everyone can agree that racism is a serious issue still today, there is also such a thing as hypersensitivity to racism as well. Just because someone uses dark or black to mean bad or evil, doesn't necessarily mean they are talking about black people, but about the historical associations about anything dark being bad.

21. McLTE

Posts: 922; Member since: Oct 18, 2011

DJ, your comment would imply that all capitalism is bad. Not so. he's simply trying to say the dark side of capitalism.

24. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

How about ugly side

27. Pancholo

Posts: 380; Member since: Feb 27, 2012

Holy Jeebus, it's merely a figure of speech. If you're trying to pick a fight with the man, then you might as well pick a fight with the multitude of people that gave various meanings to the word "black" that have trascended centuries. You're all worse than trolls.

13. Jommick

Posts: 221; Member since: Sep 10, 2013

How is it making a fortune off the loss of normal people? It's like saying when Microsoft moved its headquarters to Redmond, WA that it sucked all of the money out of the local economy and made it the most desolate area in America. The wealthy don't take a bigger piece of the pie, they build bakeries.

17. terabyteRouser

Posts: 457; Member since: Oct 18, 2011

19. Ashoaib

Posts: 3260; Member since: Nov 15, 2013

Come onnnn... hahaha Black means, dark... not black color... I mean dark side of capitalism... I dont think my comment was difficult to undetstand but anyway you guys put smile on my face.. thanks everybody :)

5. terabyteRouser

Posts: 457; Member since: Oct 18, 2011

vote for ugliest man alive

12. PBXtech

Posts: 1032; Member since: Oct 21, 2013

Just glad Tim is smart enough to see through this guys BS. Apple's strategy is working fine for them, they don't need this troll to screw it all up just so he can make easy money.

18. Stuntman

Posts: 843; Member since: Aug 01, 2011

So Icahn wants Apple to borrow $150,000,000 and spend that money to make him richer?

28. networkdood

Posts: 6330; Member since: Mar 31, 2010

If I am apple, I would not want this guy owning stock in the company - trust me - he is bad news.

29. networkdood

Posts: 6330; Member since: Mar 31, 2010

30. networkdood

Posts: 6330; Member since: Mar 31, 2010

In the end, Apple will become/is a niche company - and that is perfectly fine as that is what they have been best at. Carl Icahn will attempt to change Apple's business philosophy.

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