Apple has US$133 billion in cash and big-name investor Carl Icahn thinks it's time for the iPhone and iPad maker to use some of that money to buy back more stock. In an open letter to Apple CEO Tim Cook, Mr. Icahn said he thinks the company's stock is currently sitting at about half its value, and that's an opportunity not to be passed up.
The Mac Observer Spin The Mac Observer Spin is how we show you what our authors think about a news story at quick glance. Read More →
Carl Icahn is right about this being a good time for Apple to buy back more of its stock, but don't think his open letter is an altruistic move. This is all about business and increasing his own profit. That's just how business works.