Feeds

Carl Icahn: I don't want to fight with Tim... but I will

Investor still pushing Apple for $150bn share buyback, won't make it buy Nuance

Top three mobile application threats

Investment guru Carl Icahn says he doesn't want to fight with the management of Apple, but he won't abandon his sizeable financial concern in the firm either.

Icahn has been trying to get Apple to give some of its cash mountain to shareholders by buying back $150bn worth of shares and has been meeting with chief Tim Cook to try to hurry things along.

"Apple is not a bank and it should not be run like a bank because investors did not invest in a bank," he told the Reuters Global Investment Outlook Summit. "Apple has all this money, they should be using it."

However, he also said that he and his fund have no desire to micro-manage the corporations they invest in. He said he wouldn't consider pushing Apple into buying Nuance Communications, which makes the software for Siri and in which Icahn also has a sizeable stake.

"That is something I would… never even think of telling Tim Cook," he said, according to Reuters. "It has zero to do with the fact that I'm involved with Apple."

Icahn holds 0.4 per cent of the outstanding shares in Apple and 16.9 per cent of Nuance as of August, according to regulatory filings. But he said that he had neither the expertise nor the presumption to tell Cook to buy Nuance.

The investor also said that he had looked into buying shares in Microsoft but had decided against it, declining to give a reason why he didn't want to sink some funds into Redmond.

Aside from tech firms, Icahn also warned that there was a chance the stock market could take a big hit, because companies are being so highly valued when their earnings were more down to low boring costs than the result of managements doing anything particularly well.

"I am very cautious on equities today. This market could easily have a big drop," he said.

"Very simplistically put, a lot of the earnings are a mirage. They are not coming because the companies are well run but because of low interest rates." ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.