Cook talks Apple TV, iMessage, innovation at shareholders meeting as all management proposals approved

This morning, Apple is holding its 2014 official shareholders meeting from its Infinite Loop campus in Cupertino, California. The proceedings are just beginning, and Apple executives are expected (per usual) to field questions from attending shareholders.

One of the orders of business at this meeting is voting to approve or reject both proposals from Apple’s management and shareholders. Bloomberg‘s Jon Erlichman reports that shareholders have rejected every proposal created by other shareholders while all proposals from Apple management have been approved…

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Carl Icahn announces third $500 million AAPL purchase this month after earnings report

As Apple opened down nearly 8% following yesterday’s earnings report from the previous quarter, activist investor Carl Icahn announced this morning his third $500 million purchase of Apple stock since the start of the month. Icahn has notably made a lot of noise being vocal toward Apple’s Board of Directors urging a larger buyback program for shareholders, something Apple’s Board has taken a position against, and today’s investment pegs Icahn’s ownership somewhere around $4.1 billion. Icahn’s recent purchases come ahead of Apple’s scheduled shareholder meeting on February 28, 2014. Read more

Carl Icahn adds another $500 million into $AAPL, total now at $3.6 billion and closing in on 1% ownership

Just yesterday, activist investor Carl Icahn revealed that he has invested another $500 million into AAPL stock. Just around 24 hours later, Icahn has posted on Twitter that he invested another $500 million. That brings his total investment into Apple stock to $3.6 billion. This means that he is closing in at 1% ownership of Apple’s stock…

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AAPL hits $500 for the first time since January following Icahn investment

Apple-AAPL-500

Following comments from billionaire investor Carl Icahn that he had taken a “large position” in Apple and discussed a larger buyback with Apple CEO Tim Cook, Apple’s stock experienced a new six-month high of over $488 per share. Today, AAPL continues to climb and has passed the $500 mark for the first time in nearly eight months since January 23rd.

In an interview with The Wall Street Journal yesterday, Icahn noted that he expects Apple shares will soon rise above $600 and explained his proposal for increasing the stock buyback:

“This is a no-brainer to go buy stock in a company that can go borrow” at a low rate, Mr. Icahn said in an interview. “Buy the company here and even without earnings growth, we think it ought to be worth $625,” he said, referring to the stock price, which closed Tuesday at $489.57, having risen 5% on the news of Mr. Icahn’s investment.

Mr. Icahn’s thesis rests on Apple borrowing at about a 3% interest rate and buying back shares right now, likely at around $525 a piece. A stock buyback can increase earnings per share by reducing the number of shares outstanding.

While Icahn didn’t provide any financial details, WSJ adds that sources say his stake in Apple is now worth over $1.5 billion. Read more