Why Investor Activist Carl Icahn Is Betting More Than $1 Billion on Apple

Bloomberg “Street Smart” anchor Trish Regan recaps her interview with billionaire activist investor Carl Icahn about his stake in Apple and calling for the company to use $150 billion for share buybacks.

I think the company is extremely undervalued. I had a good talk with Tim [Cook]. I told him I think a large buyback should be done now. They have so much cash …”

— Carl Icahn

Gene Munster, senior research analyst at Piper Jaffray, discusses what Carl Icahn’s interest in Apple means for the company and for shareholders and what he sees for the company going forward. Munster speaks on Bloomberg Television’s “Market Makers.”

Apple is known for being stingy. Munster says technology moves very fast, and Apple believes you can never have a big enough war chest to counter challenges.

The pace of technology introductions is perceived of being slower lately, but Munster says the pace has always been slow.

Billionaire Carl Icahn is also reportedly set to seal a $5.2 billion financing package for Dell on Friday.

Read more: http://www.foxbusiness.com/technology/2013/06/28/report-icahn-closes-in-on-52b-debt-package-for-dell/#ixzz2c3bSfhr1

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