• Tim Cook: Apple is Buying Back $14 Billion in AAPL Shares

    by
    Michael Essany
    Published on 2014-02-07 03:16 AM
    7 Comments Comments


    Undaunted in the face of dwindling share prices, Apple tonight stepped forward to announce its repurchase of $14 billion in shares of AAPL.

    This move comes as a formidable show of conviction and optimism in response to investor concerns about the stock skid that has plagued Apple since late 2012.

    The bold powerplay was confirmed to The Wall Street Journal by Apple CEO Tim Cook on Thursday.

    Mr. Cook said Apple was "surprised" by the 8% decline in its shares on Jan. 28, the day after it reported quarterly results, and wanted to be "aggressive" and "opportunistic."
    "It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do," Cook says. "We're not just saying that. We're showing that with our actions."

    The move is expected to be especially pleasing to billionaire investor Carl Icahn, who has publicly pressured Apple for months to use its vast cash reserves to buy more shares of AAPL.

    Source: WSJ
    This article was originally published in forum thread: Tim Cook: Apple is Buying Back $14 Billion in AAPL Shares started by Michael Essany View original post
    1. Categories:
    2. Apple
    Comments 7 Comments
    1. Christophxr's Avatar
      Christophxr - 2014-02-07, 07:17 AM
      ******* brilliant.
    1. Feanor64's Avatar
      Feanor64 - 2014-02-07, 12:49 PM
      Carl Icahn been saying this ****. He gonna make a ton of dough.
    1. bigboyz's Avatar
      bigboyz - 2014-02-07, 02:23 PM
      "aggressive" and "opportunistic." 14 billion is a ton of cash. To Apple it is a tear in the bucket. That billionaire investor that is always hounding Apple to buy back shares advised 100 billion. That is a significant gap. Who do we trust, the guy that makes his living making money off others or the company that is one of the most profitable in the world to date? :]
    1. sladyrko's Avatar
      sladyrko - 2014-02-07, 03:15 PM
      Of course they will buy back.. When they release iPhone 6 with bigger screen and iWatch their stock will hit the sky.. If I had 1 billion right now I would put all in Apple shares.. I am pretty sure after their release I will have at least half a billion more :-)
    1. PCYoda's Avatar
      PCYoda - 2014-02-07, 04:09 PM
      I personally will think it's hilarious if an iWatch never gets released - I'd like to think iWatch is a rumor created and continued by Apple to get their rivals to spend needless dollars trying to beat Apple to a product they never intend to actually come to market with.
    1. Feanor64's Avatar
      Feanor64 - 2014-02-07, 07:58 PM
      Quote Originally Posted by bigboyz View Post
      "aggressive" and "opportunistic." 14 billion is a ton of cash. To Apple it is a tear in the bucket. That billionaire investor that is always hounding Apple to buy back shares advised 100 billion. That is a significant gap. Who do we trust, the guy that makes his living making money off others or the company that is one of the most profitable in the world to date? :]
      The 14 billion is just now but in the past year I think it's been a total of 60 billion. As far as investing, I would trust Icahn he's an expert. Tim cook is not. This is Icahns bread and butter.
    1. hogcia's Avatar
      hogcia - 2014-02-07, 08:39 PM
      It's about time cook did something smart for the company.

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