Feeds

New 'BLOCKBUSTER' APPLE iTHING imminent - billionaire Einhorn

Cupertino unicorn farm will reward me, says Mr Unicorn

Top three mobile application threats

Billionaire investor David Einhorn has upped his shares of Apple through his Greenlight Capital Re reinsurer and is waiting for the fruity firm's "next blockbuster product".

“Our thesis remains that Apple has a terrific operating platform,” he said on a conference call yesterday, reported by Bloomberg, Reuters and others. “Its loyal, sticky and growing customer base will make repeated purchases of a growing portfolio of Apple products.”

At the end of last year, Greenlight held 1.3m shares in the iPhone maker, according to a regulatory filing, but Einhorn wouldn't say how much the reinsurer had increased its stake by, or when it had bought its new shares.

Einhorn has been a pain in Apple's arse recently, agitating for shareholders to get their mitts on more of the fruity firm's giant piles of cash and suing Apple to block a vote on the issuance of higher-dividend preferred shares earlier this year. The stocks, dubbed iPrefs, are part of Einhorn's attempt to get more money out of Cupertino.

He's a bit happier now since Apple took a "major step forward" by issuing $17bn in bonds last month as well as offered to return $100bn to stockholders by upping dividends and share buybacks.

“This is a vastly more shareholder friendly capital-allocation policy than where Apple stood a few months ago,” Einhorn said.

Apple chief Tim Cook said last month that the firm was upping its quarterly dividend by 15 per cent to $3.05 per share and was boosting its share repurchase programme. He also said that new products would be coming along later this year and throughout next year. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.