14 DAY TRIAL // Billionaire investor Carl Icahn has sent a letter to Tim Cook, likely regarding his proposed buyback program which will net Apple a $700 (€507) price target per share, according to his judgment.
A Tweet sent out by Icahn this week reads, “Just sent a letter to Tim Cook. Full letter will be disclosed on my website, the Shareholders' Square Table, which will be launched tomorrow.”
Icahn has been pushing for a stock buyback at Apple, trying to convince Tim Cook to do a $150 billion (€109 billion) buyback by borrowing funds at 3 percent.
He has been quoted as saying that “if Apple does this now and earnings increase at only 10 percent, the stock – even keeping the same multiple currently – should trade at $700 a share.”
Am I the only one who sees Icahn’s fin sticking out of the water?