Icahn takes to Twitter in pushing for Apple shares buyback plan

Icahn takes to Twitter in pushing for Apple shares buyback plan

Summary: The American business magnate isn't keeping quiet about what he thinks the iPhone maker should do next.

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American financier Carl Icahn fueled a media frenzy in August when he announced via Twitter that he was making a significantly larger investment in Apple.

He's back at it on the same social network, publicly airing the business-related topics of his dinner with Apple CEO Tim Cook last night.

The business magnate wrote on Tuesday that he and his investment empire "pushed hard for a 150 billion buyback."

That translates to a proposed $150 billion to be made available for Apple share repurchases.

According to Bloomberg, Icahn said the scheme is a "no brainer."

Icahn, who is no stranger to facing opposing interests given his months in a bitter battle with CEO Michael Dell, also hinted that the parties involved couldn't come to a resolution, noting that "We decided to continue dialogue in about three weeks."

Nevertheless, Wall Street appears to approve -- at least for now -- as Apple shares were up by approximately two percent as news of the meeting hit the wires this morning.

Given that the debacle over at Dell has been resolved to the point where it is moving ahead with going private, we can only expect to see more of Icahn's interest (and vast wealth) directed toward Cupertino.

At the time of his substantial investment and initial conversations with Cook about a buyback plan, Icahn described Apple as "extremely undervalued."

Topics: Tech Industry, Apple, iOS, iPhone, Mobility

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6 comments
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  • I'm sending someone to break his tweeting finger.

    And a lawyer with a suit. Market manipulation.
    greywolf7
  • Oh Please

    Can somebody make it illegal to be Carl Icahn.
    Alan Smithie
  • Greed is good

    Gordon Geko's greed is good speech is probably hanging on Carl Icahn wall somewhere.

    Carl states his actions are for the good of share holders, be honest Carl its all about you.

    You are no better than patent trolls.
    pjc158
    • Agreed. To him it doesn't matter what happens to the company

      or it's employees, as long as the shareholders are taken good care of.
      William.Farrel
      • Slight correction:

        As long as he's taken care of. As a shareholder, I think that he's intent on pillaging and looting, not in helping anyone but himself.
        msalzberg
  • Since I believe Carl Icahn subscribes to the Mitt Romney mantra

    of corporations being people, Carl Icahn should be arrested and tried for murder. He's killed many companies on his path of becoming rich.
    Champ_Kind