Thursday, September 26, 2013, 07:25 am PT (10:25 am ET)
Apple CEO Tim Cook to meet with investor Carl Icahn in NYC on MondayBillionaire investor Carl Icahn will meet with Apple Chief Executive Tim Cook in New York City on Monday to discuss Icahn potentially adding to his stake in Apple, according to a new report.
Details on the alleged meeting plans were revealed on Thursday by CNBC, which said the two will also "discuss the company's prospects." Icahn is believed to currently hold about $2 billion worth of AAPL stock.
Icahn has publicly pushed for Apple to buy back more shares in itself. Via his official Twitter account, he revealed that he would meet with Cook for dinner sometime in September.
Icahn has said he believes that shares of AAPL are "extremely undervalued" at their current price. His support of the company helped to push Apple past $500 per share last week, though the stock price fell back below that threshold in subsequent weeks.
Apple spent $16 billion last quarter alone on repurchasing 36 million in shares. The original schedule had called for the company to buy 10 million in shares in the third quarter, but Apple apparently decided to push harder and buy at an average share price of $444.44 more than $250 off from the company's high of $702.10 reached last September.
On Topic: Investor
- Apple leadership awarded 35K restricted stock unit bonus worth over $19M each
- Wall Street not surprised by Apple CFO's retirement, expecting smooth transition
- Apple CFO Peter Oppenheimer to retire at end of September
- Apple's voracious appetite for acquisitions outspent Google in 2013
- Why Apple, Inc. is keeping the identity of many of its 23 recent acquisitions a secret