Seeking Alpha

Icahn bought "quite a bit" of Apple today

  • Carl Icahn, whose CNBC appearances seem to be getting more frequent these days, told the TV network he added to his Apple (AAPL -5.5%) position today as shares fell in response to three downgrades and concerns about the iPhone 5C's pricing.
  • Icahn also declared Tim Cook is doing "a very good job," and stated he won't presume to tell Apple "how to run their business" (so much for prodding Apple to buy Nuance). Last month, Icahn said he plans to have dinner with Cook in September to discuss a larger buyback.
  • Also: 9to5 Mac and MG Siegler both report a new Apple TV set-top is in the works. Siegler states it will launch in October; 9to5 Mac isn't sure of the ETA. Separately, AllThingsD reports existing Apple TV boxes will get a software update on Sep. 18, the same day iOS 7 and iTunes Radio will be released.
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Comments (41)
  • Doyle3000
    , contributor
    Comments (1545) | Send Message
     
    This is why when we see a picture of Carl Icahn on CNBC it says "Billionaire Investor" underneath.

     

    He's buying when the idiots are running scared. And the people who downgraded the stock and the sheeple who sold will never have a label like that under their picture. At best it'll say "Thousand-aire Investor".
    11 Sep 2013, 05:05 PM Reply Like
  • RycheMykol
    , contributor
    Comments (352) | Send Message
     
    I'm sure the people who downgraded AAPL today bought a ton of shares themselves.
    11 Sep 2013, 05:10 PM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    Exactly! The "analysts" created an intentional buying opportunity for themselves. Anyone who thinks the big brokerages and hedge funds are not in collusion is deluding themselves. Just look at the criminals who were fixing exchange rates. Apple's new iPhone are impressive, period. They are the technology and innovation leader and proved it again. They are not interested in having the biggest market share, just the biggest profits.
    11 Sep 2013, 06:16 PM Reply Like
  • Zankudo
    , contributor
    Comments (232) | Send Message
     
    I think you have Apple confused with Nokia and Sony. Their technology is gimmicky now more than innovative. They rely on panache and an American public that voted for Nixon and Bush twice.
    11 Sep 2013, 08:36 PM Reply Like
  • jcurl58
    , contributor
    Comment (1) | Send Message
     
    I see your point. They then went completely brain dead and voted for Obama twice.
    12 Sep 2013, 02:48 AM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    Really? Politics in a market forum?
    13 Sep 2013, 08:56 AM Reply Like
  • Tom Shaughnessy
    , contributor
    Comments (1145) | Send Message
     
    Ackman should short Apple, Get Back at Icahn for herbalife (barring any pop from China Mobile)
    11 Sep 2013, 05:05 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Isn't this illegal for iCahn to "have dinner with Tim Cook" and I presume try to gain inside info into what $AAPL and Tim Cook are doing. The SEC needs to grow a pair and put an end to this "tweeting"
    11 Sep 2013, 05:05 PM Reply Like
  • gensearch2
    , contributor
    Comments (1516) | Send Message
     
    It's not illegal to have dinner. It's not even illegal to obtain inside information. It's illegal to trade on inside information.

     

    Martha Stewart went to jail for trading on inside information.
    11 Sep 2013, 05:09 PM Reply Like
  • bluestocking1
    , contributor
    Comments (17) | Send Message
     
    Icahn is not stupid; he bought all that AAPL stock today because he has already shown his future influence at that dinner with Cook this month - there will be a "buyback" and Icahn will profit handsomely. He has just benefited the company post-less than exciting iPhone event by pumping this stock (see how it opens tomorrow); Cook will need to then show some, well....let's just say gratefulness for continuing PR of this type and power.
    Billionaires "subtly" move markets their way; otherwise, what is the point and power of being a billionaire? These dinners are very important, trust me. And they are not illegal (the "inside" info is legally unknown by Icahn, though in buying large blocks afterhours, he has just shown he already knows the "inside" deal before the dinner date. Why? Because he has now, with virtual certainty created the deal we will see come to fruition. Sort of like reverse inside trading. Billionaires do this a lot; they create the situation ahead of time and bank on it, literally.
    11 Sep 2013, 05:23 PM Reply Like
  • redponydoc
    , contributor
    Comments (361) | Send Message
     
    No, I think it was the dinner.

     

    As far as I am aware, anyone could have bought shares today. Not just Icahn.

     

    Seems like a smart move. Probably why he did it.
    11 Sep 2013, 06:38 PM Reply Like
  • Vipertom
    , contributor
    Comments (169) | Send Message
     
    Yes she did, but our honorable members of congress will not. For awhile it appeared they were embarrassed over the revelation that they could trade on info obtained at open or closed meetings, so they passed a law making them equal to us citizens. Then decided that was too difficult, and canceled it.
    11 Sep 2013, 08:15 PM Reply Like
  • civ-e
    , contributor
    Comments (403) | Send Message
     
    how does this rule apply to when executives and BOD members buy or sell shares? they have, at all times, the inside information.
    11 Sep 2013, 08:32 PM Reply Like
  • Zankudo
    , contributor
    Comments (232) | Send Message
     
    She went to jail not for trading on information since she did not fall under the legal definition as an "insider", but rather for lying to the Feds. She lied about where she got it. Had she just told the truth about the source even though she acted on it, not a problem.
    11 Sep 2013, 08:35 PM Reply Like
  • 9464111
    , contributor
    Comment (1) | Send Message
     
    Martha Stewart went to jail not for insider trading but for "lying to a federal agent". She was not charged with insider trading.
    11 Sep 2013, 10:29 PM Reply Like
  • gensearch2
    , contributor
    Comments (1516) | Send Message
     
    You are absolutely correct. I forgot the securities fraud charge was tossed out.
    12 Sep 2013, 11:25 AM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    Sr. Execs and BOD members are required to disclose their stock purchases and sales within a certain time period, something like 60 days but I'm not certain. True, you can make or avoid losing a lot of money in 60 days. Also, the SEC can look at the timing of trades with public announcements (if the SEC actually policed these criminals).
    13 Sep 2013, 08:58 AM Reply Like
  • kimboslice
    , contributor
    Comments (1585) | Send Message
     
    Icahn has made more money as an investor than all the analysts who downgrade Apple will combined in 10 lifetimes. I'll bet with Icahn on aapl.
    I also bet on aapl in 2000 and 2009.
    I've won my bets already but getting in now is still safe.
    11 Sep 2013, 05:28 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4103) | Send Message
     
    Did you buy DELL too?
    11 Sep 2013, 07:05 PM Reply Like
  • Glenn Abrett
    , contributor
    Comments (1787) | Send Message
     
    For sure. Me too. In in 2003, more in in 2009, sold some close to high, sold it all this winter. Haven't really considered getting back in until today. Bought in a tinsy bit this am. Now wish had bought much more. January 400's. $7300 bucks gets you the upside power of almost 100 shares at $46,500.
    11 Sep 2013, 10:45 PM Reply Like
  • jrez
    , contributor
    Comments (310) | Send Message
     
    Smart guy.
    11 Sep 2013, 05:32 PM Reply Like
  • jebworks
    , contributor
    Comments (178) | Send Message
     
    I have more confidence in Icahn than a bunch of analysts and TV talking heads who don't seem to have a clue about Apple, it's management strategy or the global brand appeal the company continues to enjoy.
    11 Sep 2013, 05:35 PM Reply Like
  • bobcom9017@bellsouth.net
    , contributor
    Comments (59) | Send Message
     
    There are many ways to increase shareholder value and AAPL is just starting.

     

    Apple has a boatload of very smart people who spend all of their time thinking of ways to improve, innovate , and creat value. I like Apple products and appreciate the added security I feel like I get from them.
    11 Sep 2013, 05:49 PM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    64-bit processor and 64-bit apps. It may be techie but it is important to advancing the capabilities of phones and tablets. iOS 7 is really a leap ahead of Android at this point.
    11 Sep 2013, 06:19 PM Reply Like
  • Kevin Murphy
    , contributor
    Comments (84) | Send Message
     
    Heh, I'm guessing that Icahn advised Cook that if AAPL held off discussion of TV and watch products at this announcement, the price would drop and AAPL's buy-back funds would buy more shares. Icahn would not have to say that he would buy too if the price dropped.

     

    So AAPL buys back more shares today (I"m guessing) and Icahn did some trading out last week and in today. No insider info changed hands, as no one stated what they would actually do.

     

    Cook looks dumb yesterday for not saying anything about TV or watch products, pundits say Cook is no Jobs, and then today we read about TV products in the pipeline, after Cook bought back more shares on the dip.

     

    Dumb like a fox. Of course, this is all speculation on my part, but I'm guessing that Icahn did not call Cook in the 1st place to talk about golf, he called to impart some market savvy.

     

    Someday, folks will realize that while Cook does not have Jobs charisma, he is a very smart businessman. And he is positioning AAPL to grow revenues from other areas, like payments processing via fingerprint recognition, advertising via Radio, and so forth.

     

    I'm not selling.
    11 Sep 2013, 06:21 PM Reply Like
  • Charles12345
    , contributor
    Comments (132) | Send Message
     
    Sorry....How do you know Cook bought more shares today?
    11 Sep 2013, 06:25 PM Reply Like
  • Vipertom
    , contributor
    Comments (169) | Send Message
     
    I'm sorry, I want Tim Cook to succeed, but the iPhone 5c was a non starter. What were they thinking? This was to be Apple's way to get smart phones to the masses by offering a lower price. It was to be a catalyst for the next revenue gain. It was incremental revenue that otherwise would go to another vendor because there are a lot of people in the developing world who can not afford an iPhone. I think sales of the 5c will be terrible until they lower the price.
    11 Sep 2013, 08:21 PM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    The iPhone 5C was a way to get people who are fashion conscious to move to Apple. Apple has always been one high-tech firm that believed form is as important as function. The 5C is cool, its colors are slick and to the best of my knowledge only Nokia offers a similar brilliant colorful look to their phones.

     

    What demographic wants fashion? Women. What demographic wants cool? 20 somethings. So, will your wife want a boring black Samsung or a bright, colorful iPhone 5C? I'm betting on the 5C. Time will tell.
    13 Sep 2013, 09:03 AM Reply Like
  • Charles12345
    , contributor
    Comments (132) | Send Message
     
    How do you know Cook bought more shares today?
    11 Sep 2013, 06:25 PM Reply Like
  • Kevin Murphy
    , contributor
    Comments (84) | Send Message
     
    My comment clearly said that I was guessing that Tim Cook bought more shares... and I also think it was clear from the context that I meant that AAPL bought more of its own shares, not that Tim bought for its own account.

     

    If this was not clear, I offer my apologies.
    13 Sep 2013, 11:10 AM Reply Like
  • User7766461
    , contributor
    Comments (156) | Send Message
     
    When Alexander Graham Bell invented the telephone he had 3 missed calls from Carl Icahn
    11 Sep 2013, 06:38 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4103) | Send Message
     
    Are you all dreaming?? (a) The Icahn effect got real old real fast. (b) The new shows of AAPL are getting old. (c) The China show....wow, bummer (lol)

     

    There was NOTHING unexpected or new or really innovative to see. I am so glad I sold my LEAP calls at +500! I prefer much being long MSFT and FB over AAPL right now.

     

    Cook is getting really pathetic in those shows. He should be replaced and basically just run the business.
    11 Sep 2013, 07:03 PM Reply Like
  • Barn Al
    , contributor
    Comments (153) | Send Message
     
    I don't know about the MSFT part, but totally agree about AAPL. Cook must have used the word "incredible" 270 times...none of the execs really have much talent when it comes to showmanship. I think its going to take more than Icahn blowing his money all over to get the zing back.
    11 Sep 2013, 07:52 PM Reply Like
  • jpintoctr
    , contributor
    Comments (524) | Send Message
     
    I think you missed or are not aware of the significance or what mean a to have a 64 bit processor in a phone. It will take months to the competition to be there. That is not cosmetic innovation.

     

    When people start to attack personalities and making "ad-hominem" judgements show lack of arguments.

     

    I am sorry to be direct but this supposed to be a serious site
    11 Sep 2013, 11:00 PM Reply Like
  • scott trader
    , contributor
    Comments (5433) | Send Message
     
    Elvis Costello was not needed at the end ....not a fan ....but am a music lover...
    11 Sep 2013, 08:36 PM Reply Like
  • ShellyCCC
    , contributor
    Comments (90) | Send Message
     
    I think the 5c and 5s will be a quarterly report hit!!!!!!! Buying at every dip!!!!
    11 Sep 2013, 10:26 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    This is a battleground stock. Time to find another investment.
    11 Sep 2013, 10:45 PM Reply Like
  • jpintoctr
    , contributor
    Comments (524) | Send Message
     
    Wall Street is so disconnected from Main Street and act like a herd. If the iPhone would have been priced lower, we would see the same type of reaction but related with reduced margins.

     

    I am glad that Apple has a consistent path to continue to be a "premium" brand. Clearly not Samsung.
    11 Sep 2013, 10:55 PM Reply Like
  • skleiniv
    , contributor
    Comments (78) | Send Message
     
    What does it say about apple having two years to come out with a larger screen and then coming up short at this event? It tells me that apple is really falling behind the times & keeps missing the 8-ball. Come on, different colors? Who cares, you cover with a case anyway! A larger screen would allow older people like me & my friends to be able to read websites visited on the iPhone much easier. Unfortunately for me I'm long apple & have a lot of shares. I do believe it will go back up on a china mobil announcement, but this event was pathetic! Apple just can't seem to get its Mojo back unless they can start providing us with larger screens & a china Mobil deal. Hopeful & waiting in Houston!
    11 Sep 2013, 10:56 PM Reply Like
  • L.A.RICK
    , contributor
    Comments (76) | Send Message
     
    Carl Icahn is looking at a much larger picture than phones. As a financial wizard, Carl is thinking what can Apple do with all of it's cash and borrowing ability at attractive rates? If you think it's all about stock buy backs... think again.

     

    As a retired investment banker, I know what he's planning. Apple is a unique company in many ways. High end products/services. Loyal following. Iconic Brand Name. Strongest balance sheet and cash flow of ANY company in the world. So what do you do?

     

    I strongly believe that Apple will soon announce the creation of the largest banking/financial institution to serve their 500+ million person ecosystem. In other words, Apple will become a bank for t serving their loyal clients around the world. New clients anyone?

     

    This was confirmed yesterday with the announcement of the fingerprint device by Apple. This guarantees safe financial transactions whether you're buying something, investing in something or borrowing money to buy something like a car or house. Think like Carl and become wealthy with Tim and Apple!
    12 Sep 2013, 09:35 AM Reply Like
  • TruffelPig
    , contributor
    Comments (4103) | Send Message
     
    Well, even though I am NOT that convinced (read above) I buy some of my Leap calls back: AAPL is quite cheap really. I am sure that something comes until 2015. Or so I hope. James also wrote two AAPL ripping articles in a row! He is my contrarian indicator.
    13 Sep 2013, 09:06 AM Reply Like
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