Icahn Says Apple's Mistreating Shareholders, Buys $500 Million More Shares | Cult of Mac

Icahn Says Apple’s Mistreating Shareholders, Buys $500 Million More Shares


Carl Icahn is coo-coo for AAPL.
Carl Icahn is coo-coo for AAPL.
Photo: Forbes

Carl Icahn’s relationship with Apple has been rocky ever since he became the company’s most loquacious investor last Fall. While ribbing Tim Cook publicly with one hand for not doing a bigger buyback, the other has been busy forking over fat stacks of cash for more and more AAPL shares.

This morning Carl went classic Icahn and took to Twitter again to complain about Cook and the Apple board not giving him and other investors more money with his proposed $50 billion buyback, while also announcing he’s been gobbling up AAPL shares faster than Jaws went after those guys on the boat:

Icahn started with an initial investment around $500 million to $1 billion back in August when the stock was at $468 per share. He’s since increased his stake to $3 billion, making him the 33rd biggest AAPL shareholder while the stock is selling around $554 per share this morning.

All that money made off the stock price isn’t satisfactory for a multi-billionaire corporate raider, so Icahn made sure to push for the buyback while he was at.

So why is Carl complaining about Apple while investing deeper into the company? Not even Carl Icahn knows sometimes. After his morning shower of tweets he appeared on CNBC and admitted that in some ways he’s better off if the company doesn’t increase its buyback so that AAPL remains cheap enough for him to buy even more.

AAPL is up about 1% today. Well played Carl.