Icahn Turns His Powers of Persuasion on Tim Cook
Carl Icahn turned his sights on Apple Wednesday, recommending the company buy back $150 billion in stock from the market. Apple stock is undervalued at the moment, making it an ideal time for a large repurchase of stock, Icahn reasoned in an open letter to Apple CEO Tim Cook posted on his new Investors Square Table website. Apple has a massive amount of cash on its balance sheet -- $147 billion.
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