Seeking Alpha

Bloomberg: Icahn has $1B+ Apple stake, sees shares topping $600

  • Bloomberg reports Carl Icahn's just-disclosed Apple (AAPL +4.7%) stake is north of $1B (implies a ~0.25% stake ... for now), and that he expects shares to top $600.
  • During a CNBC talk, Icahn expressed confidence about Apple's future in the post-Steve Jobs era. Oracle CEO and close Jobs friend Larry Ellison offered a different take yesterday.
  • ZeroHedge observes only $40.6B of Apple's $146.6B cash balance was domestic at the end of the June quarter, and that $18B was spent on buybacks in the quarter. If Apple heeds Icahn's call to further ramp its buyback activity, a new debt offering might be in order. $17B in debt was raised at very low rates (they've since risen) in April.
  • Shares have closed near $490 on volume nearly 3x Apple's daily average.
Comments (18)
  • There goes Icahn the medicine man pumping up shares again. If he is confident that aapl will top $600, why is he not buying more ... and why tell us poor sods now? Yep, hoping for more buyers to boost his shares. AND why does he get to talk to the CEO and chit-chat on how business and plans of new stuff are doing????
    13 Aug 2013, 04:06 PM Reply Like
  • Not to defend Icahn, but 1 Billion dollars seems like a pretty significant vote of confidence to me.
    13 Aug 2013, 04:10 PM Reply Like
  • Don't you wish investing was as easy as tweeting what stocks you bought and watching them go up?

     

    Ichan has his right finger on the sell button and its getting itchy. He loves AAPL at 485, but you can have it at 500!
    13 Aug 2013, 05:58 PM Reply Like
  • 13-F filings come out tomorrow. He's just breaking the news a little earlier and clarifying that this isn't a 'hostile' transaction.

     

    Icahn made me a good bit of money last year on my $NFLX position that I bought a month before he announced his stake last year. Hope this gives $AAPL a boost since this stock truly deserves it.
    13 Aug 2013, 09:32 PM Reply Like
  • then what about 50 Billions that Apple planned to buyback? What kind of confidence would one classified that?
    13 Aug 2013, 09:37 PM Reply Like
  • And depending on what he bought it at, some incentive to want to get the rates higher. His words must be taken with a grain of salt given his holdings. And for the record, I also have some shares. Anybody who does is hoping for higher prices.
    13 Aug 2013, 04:13 PM Reply Like
  • Icahn bought NFLX and told everyone after his position and the stock has still doubled or tripled. I'm not going to go look into the exact number.

     

    Icahn's "small" position only looks tiny because AAPL is so huge. $1bn is a large investment.
    13 Aug 2013, 04:22 PM Reply Like
  • He did the same with Herbal Life. He has more than doubled his profits in his 4 major holding in less than a year. Apple at $850 is next.
    13 Aug 2013, 04:32 PM Reply Like
  • And so what! Icahn is almost nobody besides the rest of the the owners. It is an stupidity how the market reacts due to such notice. He will only manipulate the stockprice to his benefit. It is up to you if you want to jump into the trend. The problem will be when he exits
    13 Aug 2013, 04:22 PM Reply Like
  • As Warren Buffets acquisitions or large percentage share buying doesn't influence the market.........Icahn is savvy and sees value and isn't scared to put his money where his mouth is....wait til Musk buys into the aapl ecosystem....
    13 Aug 2013, 05:30 PM Reply Like
  • Interesting development. What drives a billionaire and what drives SivBum is the same... Making money. Only difference is scale. I believe that an investor that is big enough to affect the company's stock price when he takes a position should have the courtesy to chit-chat with the CEO to explain his intentions. I suspect the the 5 shares Mr. SivBum owns does not carry the same weight. I could be wrong.
    13 Aug 2013, 04:26 PM Reply Like
  • People have been bashing this stock for so long.... at a 10 PE! What a croc!
    Just ridiculous what Wall Street did to this company. At one point it was below 400. Never understood why Apple all of a sudden had a PE equal to MSFT who completely missed the smartphone/tablet revolution. Oversold panic selling at the bottom. Icahn is right and all the hedge funds that dumped this are now buying back in as well.
    13 Aug 2013, 05:53 PM Reply Like
  • If Icahn is comfortable owning NFLX at their nosebleed valuaton clearly he is comfortable holding Apple.

     

    His move today punches Apple through the 200 moving average with authority. Cramer is saying buy Apple thus a stock that seemed dead in the water is now being talked about by everyone. And the new iPhone is not even announced yet.
    13 Aug 2013, 06:06 PM Reply Like
  • put/call open interest changed dramatically as well now
    13 Aug 2013, 06:18 PM Reply Like
  • Don't sweat it and enjoy the ride up.
    13 Aug 2013, 09:35 PM Reply Like
  • The guy should be charged with market manipulation.
    13 Aug 2013, 11:31 PM Reply Like
  • Apple's latest innovations: iPod, iPad, iPhone, iTV, iSueSamsung, iDividend, and now iCahn
    13 Aug 2013, 11:58 PM Reply Like
  • Wow...Look at all the shorts talking crap now! Lost some money????
    14 Aug 2013, 07:50 AM Reply Like
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