Infamous investor Carl Icahn, who is a serious investor in Apple stock, posted on his personal Twitter page that he and Apple CEO Tim Cook are scheduled to have an important business dinner in September. So what will be discussed over wine and fine dining? Apparently, the increasing of Apple’s share buyback. This is how the full tweet looks like:
“Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude.”
This week’s tweet comes after another one, dating to August the 13th 2013 when Icahn expressed for the first time that he was talking to Cook about a larger buyback:
“Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.”
There is a possibility that Apple might make the buyback announcement on its speculated yet very probable September event, where it’s supposed to unravel the iOS 7. It’s an unlikely scenario, some experts feel, so we’re most likely going to hear about the buyback during Apple’s next quarterly earnings reports.
Icahn invested a lot of money in the company – about $1.5 billion. His financing helped Apple quite a lot, pushing the company’s shares over the $500 threshold at least for a couple of days. Icahn currently believes that the stock is extremely undervalued, but things are being put into motion in order to change that.