News tagged ‘buyback’
According to WSJ, Apple has repurchased $14 billion of its own shares after the Q-earnings report was published on January 28th.
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." With the latest purchases, Mr. Cook said Apple had bought back more than $40 billion of its shares over the past 12 months, which Mr. Cook said was a record for any company over a similar span.
The famous billionaire Carl Icahn has posted a couple of tweets, where he claims that Apple is 'extremely undervalued' and he is planning to obtain a bigger share of Apple.
We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come.
Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.
The result of Icahn's tweets was Apple's stock upsurging by 5%.
During the early Monday call, which outlined a surprise stock dividend and buyback plan for the company's $100 billion cash horde, Cook said that "[Apple] had a record weekend and we're thrilled with it." Apple also announced yesterday that it has sold 3 million new iPads in less the four days of availability.
It should be noted, however, that pre-ordered items are commonly not counted as sales until a transaction is complete and thus those iPads that are awaiting shipment were most likely not part of the final tally.
“The new iPad is a blockbuster with three million sold―the strongest iPad launch yet,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “Customers are loving the incredible new features of iPad, including the stunning Retina display, and we can't wait to get it into the hands of even more customers around the world this Friday.”
Two months has already gone since the moment when Tim Cook was appointed Apple’s CEO. The Wall Street Journal decided to take a look at his management strategy and found out some differences between his style and that of Steve Jobs.
In recent weeks, Mr. Cook has tended to administrative matters that never interested Mr. Jobs, such as promotions and corporate reporting structures, according to people familiar with the matter. The new chief executive, 50 years old, has also been more communicative with employees than his predecessor, sending a variety of company-wide emails while addressing Apple employees as "Team," people close to the company said.
Cook made significant changes in Apple’s education division. As a result the division was divided into marketing and sales divisions and then reintegrated with the company's broader arms focused on those aspects of the business. Another corporate-level change is recently-announced charitable matching program that calls for Apple to match employee donations up to $10,000 per year, a change from the Jobs who was reportedly against giving money away. Cook seems to recognize quickly expertise and achievements of his employees, and ready to promote them, such as with the promotion of Eddy Cue.
Now, instead of selling your used iPhone on services like
Shareholders meeting started at 1 p.m. EST Thursday. For almost 2,5 hours they discussed different topics and revealed some interesting information.
First of all, Apple is going to open 25 retail stores in China. As you know, the first Chinese store was built in 2008, and since then only plans about revealing another store were announced.
Secondly Steve Jobs told Apple will build its reserves to make big investments in the future. He also mentioned it is a better way of dealing with profit than paying dividends or doing stock buybacks. At this moment Apple has ~40 billion dollars in their chest.