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Carl Icahn wants Apple to buy back $50 billion in shares

Icahn files $50 billion share buyback proposal with Apple.

@CharlesJGantt
Charles Gantt
Published Wed, Dec 4 2013 7:17 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Billionaire activist is at it again, and this time he is pushing Apple to buy back $50 billion worth of its shares from investors. Today Time Magazine reported that Icahn has filed a proposal that he hopes will pressure Apple into increasing its share buyback program to a whopping $50 billion.

Carl Icahn wants Apple to buy back $50 billion in shares | TweakTown.com

Apple has confirmed that the proposal has been filed, but no comment on the actual proposal was made. Apple could more than afford the buyback, but it would cut its cash reserves significantly. On the other hand, with Apple's stock falling over the course of the last 12 months, the buyback increase could see some investors make back some of their lost investments.

NEWS SOURCE:techcrunch.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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