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Greenlight Capital/David Einhorn has dropped its lawsuit  over Apple's (AAPL -1.6%) Prop....

Greenlight Capital/David Einhorn has dropped its lawsuit  over Apple's (AAPL -1.6%) Prop. 2, in response to the company's decision to withdraw the proposal and its bundled changes (in the wake of an injunction) prior to Wednesday's shareholder meeting. Apple insisted at the meeting it remains committed to giving shareholders the right to vote on the issuing of preferred stock.
Comments (30)
  • Game/set/match for David Einhorn.
    1 Mar 2013, 01:15 PM Reply Like
  • What did he "win" other than wasting lawyer fees and the court's time?


    Apple will have a separate proposal to shareholders where they will vote on whether shareholders will have a right to vote on issuing preferred shares. It will pass and I'll predict it will pass overwhelmingly.
    1 Mar 2013, 01:22 PM Reply Like
  • Game, set, maybe. Match, not necessarily. Einhorn won on procedural issues under shareholder/corporate law rules, not on the substance of Apple's preferred shares proposal. The company is free to put it up for vote again, so long as it does not bundle the proposal with other shareholder issues to be voted on.
    1 Mar 2013, 01:32 PM Reply Like
  • Exactly, gensearch2. It will just pass next time, and overwhelmingly. Unless he was shorting the stock or stood to profit my manipulation of some kind, he didn't win anything at all.


    Apple is not being managed for the benefit of short-term manipulators of stock price or greedy hedge fund managers. Apple is attempting to do what is best for the company in the medium to long term.
    1 Mar 2013, 01:35 PM Reply Like
  • Just a thought. How about having Jony Ivy make the P R announcements--especially on product introductions. He still has some of the Steve Jobs aurora about him.
    1 Mar 2013, 01:45 PM Reply Like
  • People tried to catch the falling knife in the 600's, 500's, 400's......


    Might Apple catch a break, probably.


    Meanwhile it sure is funny to watch.
    1 Mar 2013, 01:58 PM Reply Like
  • i still giggle when I think about the "Apple is going to 1000+/share thumpers" especially ironic now that Google is in a position to actually do that (although I doubt they will).
    1 Mar 2013, 02:17 PM Reply Like
  • Why should GOOG get to $1000 first, they still might not even have higher earnings than AAPL this year?
    1 Mar 2013, 02:32 PM Reply Like
  • that is true illuminati but then again google doesnt have higher earnings now but is nearly double apples share price...


    when you can explain that I'll explain why google is better positioned currently than apple is.
    1 Mar 2013, 02:37 PM Reply Like
  • Exactly, I can't explain the discrepancy, people seem to assume GOOG will be immune to the same trouble AAPL had in growing earnings when they're already so large, maybe because they're more diversified.
    1 Mar 2013, 03:06 PM Reply Like
  • Yep I don't disagree with you it's odd, Google is more diversified and has been more open about some of their larger projects (google car, glass, etc...) than apple has been which is notoriously secretive... I think once Apple does announce something new and innovative officially we'll see a rally maybe back up to $500...


    ON the same train of thought people know what to expect from Google because they are more open... Apple has a bunch of question marks... and nobody likes those they are crooked.


    Just a few odd theories that have passed through my mind.
    1 Mar 2013, 03:12 PM Reply Like
  • Share price is relative to outstanding shares. Google might reach a $1,000 price, but it has nowhere near the valuation of Apple. Also, EPS is relative to shares. So even if Google has the same EPS as Apple, their actual earnings are much lower. That's why, theoretically, Google has a better chance of growing, and is warranted a higher P/E ratio.
    1 Mar 2013, 05:44 PM Reply Like
  • AMZN might make it to $1,000 a share and not make any earnings.
    2 Mar 2013, 08:27 AM Reply Like
  • Obviously Tim Cook rubs the market the wrong way. Of course he has a lot to offer, but not as the face of Apple.
    1 Mar 2013, 02:26 PM Reply Like
  • Who cares?
    Who cares what Einhorn does? Apple will continue to make a mountain of profits.
    Who cares whether or not some guys on Wall St. like Cook? Do they like that loudmouth slob Ballmer?
    In a few years I predict my AAPL dividends alone will be about $1000 per month. Do I worry what traders think about AAPL for the last few months? Nope.
    Do I worry what Nokia, Microsoft, Blackberry fanbois think about Apple? Nope.
    Apple is a profit juggernaut that makes superior products, gives superior service, makes huge profits and is the #1 brand in the world.
    If you have any dry powder left it's times like this that you make a fortune in stock investing.
    I don't have much dry powder left, but I was blasting away with it in Jan 2009. What did you do then?
    1 Mar 2013, 02:35 PM Reply Like
  • My gut feeling is this feud is more about the cash that will be in the bank next year at this time.
    1 Mar 2013, 02:36 PM Reply Like
  • apple is not selling enough iphones and ipads. That is the problem . all their suppliers are pointing that apple products sales will be well below estimate. then we will see the stock at 150. they are going to be the next SONY or NCR. they should have diversified by acquiring other businesses . if you have an iphone , you are not going to buy another one. if you do not , it means you cannot afford it and will buy a cheaper smartphone. See you at 200
    1 Mar 2013, 03:06 PM Reply Like
  • "if you have an iphone , you are not going to buy another one."


    I'm not sure where you get that from. Most surveys show that 90%+ of iPhone owners plan on purchasing an iPhone for their next phone. In the US, most cell phone users upgrade every two years. Also, iPhone sales are growing. They sold more phones last quarter than ever before, and suppliers were cutting orders then too. They just didn't sell as many as analysts estimated. Also, there are concerns of increased competition, but I don't think there is any evidence yet that the market is saturated.
    1 Mar 2013, 05:51 PM Reply Like
  • AAPL


    margins under pressure
    losing market share
    earnings estimates cut 9 weeks in a row


    shareholder unfriendly


    stay short
    1 Mar 2013, 03:19 PM Reply Like
  • see you at 200
    1 Mar 2013, 03:22 PM Reply Like
  • What, $200 cash per share?
    1 Mar 2013, 03:24 PM Reply Like
  • Who cares about the lawsuit. Einhorn should come in with a couple of billion dollars and get this stock going up. I hope we can get a last 1/2 hour rally to take it above the Jan lows at 435.
    1 Mar 2013, 03:33 PM Reply Like
  • apple share will be at 200 . do not forget they have to pay taxes on overseas cash. they have less than a 100 in cash net
    1 Mar 2013, 03:43 PM Reply Like
  • Lol no, use some common sense. Apple could be liquidated at that point and be worth at least 200$. Don't hate AAPL the stock just because you hate the product.
    1 Mar 2013, 04:21 PM Reply Like
  • I just picked up an iphone5 (btr late than never) verizon salesman says 7 of 10 phones OTD are aapl vs whats the big deal? Completely undersold stock. Unfortunately TC is not the tireless leader as we had in SJ.
    2 Mar 2013, 03:21 AM Reply Like
  • I am seeing Apple as a misled company in need of a real leader. How much longer can this man in charge let his company fall into ruin.As a shareholder that is losing $$$$ on my purchase, I am totally disgusted with the handling or "mishandling" of such a money making company.
    2 Mar 2013, 03:25 AM Reply Like
  • If you think Apple is in ruin, where does that put Samsung?


    "... the top three top-selling smartphones in the world in terms of shipments for Q4 2012 are the Apple iPhone 5 with 27.4 millions, the Apple 4S with 17.4 millions, and the Samsung Galaxy S3 with 15.4 millions. "



    Apple's "obsolete" smartphone outsold the S3.


    "... Despite the doom and gloom talk surrounding Apple, its iPhone franchise has still vastly outsold Samsung Electronics' own Galaxy lineup.


    That's according to Raymond James analyst Tavis McCourt, who compiled the cumulative sales of the iPhone 4, 4S, and 5 and stacked them against the Galaxy S and Galaxy Note smartphones. In total, Apple outsold Samsung 219 million to 131 million. ...."

    2 Mar 2013, 08:31 AM Reply Like
  • Einhorn drops suit, AAPL drops $11.00 , Do you think someone is selling after suit is dropped?
    2 Mar 2013, 03:29 AM Reply Like
  • This drop appears to be more closely associated with the "breaking news" from suppliers that demand of electronics slows after Christmas and the Chinese New Year. It seems the "smart money" doesn't know that happens every year.
    2 Mar 2013, 09:13 AM Reply Like
  • David Einhorn will tank your stock every time.
    2 Mar 2013, 08:07 AM Reply Like
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