Investor Icahn’s stake at Apple reaches $3 billion

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Investor Icahn stake at Apple reaches $3 billion

Let’s talk business. Not just any other mobile business but a big one that’s focused on Apple. Carl Icahn recently spent about $500 million to buy more shares in Apple. His stake at the Cupertino company is now at $3 billion. While it seems to be good news for Icahn, he’s not too happy that Apple is not buying back the stock.

The billionaire feels Apple buying back stock would be best for shareholders. Icahn suggest Apple spent $150 billion to buy shares which would later on be cancelled automatically. Not that Apple is in trouble but the investor thinks a buyback would be wiser.

Apple’s share is now $555, up from the previous $468 last August. Makes me think that Icahn simply wants more profit. What do you think?

< Source: PhoneArena >

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