Edit: After half day, my wife’s Mac started having the same problem. I have then applied the solution that I found in the Apple
Carl Ichan Writes To Apple CEO Regarding Stock Buyback
Billionaire investor Carl Ichan has wrote to Tim Cook suggesting that a stock Buyback could push apples share price well over $1000.
The two company bosses met for a cordial dinner over the matter of a $150 Billion stock Buyback that Ichan wants Apple to commence to push its share prices back up.
Ichan believes that Apples Buyback program is far too small and believes an expansion of the program will help stock prices
Part of the letter read:
When we met, you agreed with us that the shares are undervalued. In our view, irrational undervaluation as dramatic as this is often a short term anomaly. The timing for a larger buyback is still ripe, but the opportunity will not last forever. While the board’s actions to date ($60 billion share repurchase over three years) may seem like a large buyback, it is simply not large enough given that Apple currently holds $147 billion of cash on its balance sheet, and that it will generate $51 billion of EBIT next year (Wall Street consensus forecast).
Apples share price opened this morning on a recent high of $531 which is still down from last year which saw high share prices of nearly $800 before a crash after disappointing sales figures last Christmas.
Will you invest in Apple if a planned Buyback goes ahead? Do you think a Buyback will benefit the company at all? Let us know what you think in the comments down below.
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