Icahn Discussed: Share Buyback Proposal Unnecessary

When it comes to the biggest names in the hedge fund industry, Carl Icahn is at the top of pretty much every list. With a portfolio value of roughly $24.64 billion, it is easy to see that Icahn is a major investor with interests in a variety of sectors.

In a recent CNBC video segment, David Faber and Jim Cramer got together to talk Icahn’s belief that there is no reason to persist with share buyback proposal in the case of Apple Inc. (NASDAQ:AAPL).

Apple Inc. (NASDAQ:AAPL)

Cramer jumped in with an interesting take, noting:

“It is the two weeks alone, $14 billion, again he cites opportunistic and aggressive. Those were the two words you wanted to see. Many of us wanted to see that. That means that Cook understands how cheap his stock has gotten and is just anxious to buy it in, and don’t forget, as you always point out, he did borrow money at the absolute low, it is cheaper to be able to buy back stock and not pay that dividend on that stock. It is a virtuous circle and those who have given up on Apple, on Carl Icahn, step back. Icahn is not giving up on it. Icahn is giving up on agitating because he got what he wanted.

For the time being, Icahn remains one of the largest individual holders in Apple Inc. (NASDAQ:AAPL). For this reason, it goes without saying that he will continue to speak up if and when he needs to. After all, when Icahn, the billionaire investor has something to say, people typically listen.

There is a lot going on in the world of Apple Inc. (NASDAQ:AAPL), with investors like Carl Icahn keeping a close watch on each and every move.

You can visit this page to learn more about Icahn’s investment in Apple, including the 3,875,063 shares that he currently holds.

Do you agree with Cramer’s assessment of Icahn’s stance? Share your thoughts in the comment section below. And of course check out the video in its entirety when you have the chance:

Comments
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