With Apple down 5% after its iPhone announcement yesterday, investor Carl Icahn, who has been super vocal on Twitter about his investment in the company, is on CNBC’s Closing Bell via telephone.
“We look at the markets and look for no brainers and I think Apple is just a no brainer,” said Icahn.
Perhaps that’s why he also said he bought “quite a bit” more of the company’s stock today.
He’s not worried about the day to day on the stock, and he still thinks the products are great — he just thinks Apple would benefit from a teensy weensy $US150 million stock buyback.
“There’s a time in markets to borrow… and when you can borrow at the rates Apple can borrow at… when you borrow at 3-4% like Apple can borrow and buy $US150 million worth of stock… it’s ridiculous to say Apple can’t buy the stock.”
Icahn went on to say that he hears critics when they say Apple needs their cash pile to grow, but the bottom line is this — when are they going to get these rates again?
Not that he’s telling Apple’s C-suite what to do.
“I’ve learned one thing: Don’t micromanage,” said Icahn. He clearly still has total faith in Tim Cook, who he’s shouted out on Twitter a few times.
Speaking of Twitter — no, he told Maria Bartiromo, he hasn’t talked to anyone about buying it.