Billionaire Apple investor Carl Icahn has withdrawn his proposal for Apple to buy back an additional $50 billion of its own stock. The withdrawal is in reaction to a recommendation from proxy advisory firm ISS, which recommended investors vote against Icahn’s proposal, Reuters reports. Icahn wrote on his Shareholders’ Square Table website that he was disappointed in the ISS recommendation, but “we do not altogether disagree with their assessment and recommendation in light of recent actions taken by the company to aggressively repurchase shares in the market.” Seemingly in response to market pressures, Apple has repurchased $14 billion in shares in the past two weeks, and the company is on track to repurchase “at least $32 billion in shares” in this fiscal year. Apple CEO Tim Cook has mentioned that the company is balancing repurchase programs with a desire to maintain cash flexibility for large acquisitions, and is not ruling out the prospect of a $1 billion purchase under the right circumstances.
Latest News
- Outfit your iPhone with this Vintage style BookBook case, now 32% off
- Apple employees get paid time Off for COVID-19 vaccine
- Apple coincides ‘The Year Earth Changed’ Apple TV+ release with Earth Day
- Apple extends independent repair provider program to new regions
- Organize and Transfer from Digital Camera to Your iPad with the Apple Lightning to USB3 Camera Adapter, Now Only $23
- Apple highlights Amanda Gorman Episode with a YouTube video
- Apple celebrates Hindu Holi festival with ‘Shot on iPhone’ segment
- Apple’s trade-in program now accepts Samsung Note 20, Google Pixel 5 and Pixel 4a
- Take Your Gaming Experience to the Next Level with the AmazonBasics Desk
- Enjoy 24% Off on the Gunnar Vertex Gaming Glasses