Quantcast


Last updated: October 01. 2013 12:42PM - 126 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) Billionaire investor Carl Icahn is pressuring Apple to spend $150 billion buying back its own stock, more than double what the company has budgeted.


In a Tuesday statement posted on his Twitter account, Icahn said he laid out his demands during a Monday dinner with Apple CEO Tim Cook.


The meeting came seven weeks after Icahn disclosed that he had acquired a significant stake in Apple Inc. because he believes the maker of the iPhone and iPad has been undervalued by investors worried about the Cupertino, Calif., company's slowing growth amid tougher competition.


As part of its effort to appease Wall Street, Apple already has pledged to spend $60 billion buying back its stock by the end of 2015.


Apple didn't immediately respond to requests for comment.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com