CIO Today

CIO Today Network Sites:   Top Tech News  |   CIO Today   |   Mobile Tech Today   |   Data Storage Today
Daily Briefing for Technology's Top Decision-Makers
APC Free White Paper
Optimize your network investment &
Enter to win a Samsung Galaxy Note

www.apc.com
Wednesday, April 23rd 
The future of tape is here.
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Trending Topics:   Security Heartbleed Big Data Cloud Computing Windows XP Data Centers OS X Mavericks
Home
Enterprise Software
Enterprise Hardware
Big Data
Network Security
Cloud Computing
CRM Systems
Data Storage
Operating Systems
Communications
CIO Issues
Mobile Tech
Chips & Processors
World Wide Web
Business Briefing
After Hours
Press Releases
 
Free Newsletters
Top CIO News
 
Mobile Tech Today
 

Apple/Mac

Apple Said To Take $14B Bite of Stock via Buyback

Apple Said To Take $14B Bite of Stock via Buyback
February 10, 2014 9:33AM

Bookmark and Share
Tech giant Apple has repurchased $14 billion of its stock in the two weeks since it reported disappointing first-quarter results. Its reported stock buyback signals the company remains confident in its business. This is good news for investors, including Carl Icahn. The activist investor has been pressuring Apple to boost its stock buybacks.

Your Next Generation Data Center Is Here! Vblock™ Systems: the world's most advanced converged infrastructure are built on the Cisco Unified Computing System with Intel® Xeon® processors. Vblock™ Systems deliver extraordinary time to market, ROI and TCO, and flexibility to meet your continually changing demands with 5X faster deployment, 96% less downtime, and 1/2 the cost. Click here to learn more.

Apple has reportedly repurchased $14 billion of its stock in the two weeks after its first-quarter financial results and second-quarter revenue outlook disappointed investors.

Its shares rose almost 2 percent in premarket trading Friday.

Late Thursday, The Wall Street Journal reported that Apple Inc. CEO Tim Cook said that the company was "surprised" when its stock dropped 8 percent the day after its earnings report and revenue outlook. He told the newspaper he wanted to be "aggressive" and "opportunistic."

An Apple representative didn't immediately respond to an email seeking comment.

Apple has grown accustomed to being a leader in the technology sector. In the Steve Jobs era, consumers and investors alike eagerly awaited each new product announcement and have been rewarded as devices like the iPhone and iPad won accolades for innovation and pushing technology forward.

But with each new innovation over the years, there have been increasingly higher expectations for the future. So when Apple's first-quarter iPad and iPhone sales were not as big as expected by investors, and its second-quarter revenue forecast fell short of Wall Street's view, the stock got dinged.

In past year Apple's shares have started losing some ground due to concerns about slowing growth and increasing competition.

And with the smartphone market becoming inundated with options, Apple may be hard pressed to lift its stock back to where it stood at its peak price of more than $700 in September 2012. That was before investors began to fret about fiercer competition in mobile devices and Apple's lack of a breakthrough product since the iPad came out nearly four years ago.

But Apple isn't sitting idle. Its reported stock buybacks signals the company remains confident in its business. This is good news for investors, including Carl Icahn. The billionaire activist investor has been pressuring Apple to boost its stock buybacks. Just last month Icahn raised his stake in Apple, revealing on Twitter that he'd put another $500 million into Apple stock. He already owned about 4.7 million Apple Inc. shares worth more than $2.5 billion.

While Apple reportedly repurchased $14 billion of its stock in two weeks, Icahn has said he wants the Cupertino, California, company to spend $50 billion buying back its own stock during the current fiscal year ending in September.

Cook told the Journal that Apple has repurchased more than $40 billion of its shares in the last 12 months.

The company's stock added $8.66, or 1.7 percent, to $521.17 in premarket trading about 90 minutes before the market open.

© 2014 Associated Press syndicated under contract with NewsEdge. All rights reserved.

Tell Us What You Think
Comment:

Name:



 Apple/Mac
1. Samsung: $2.2B Too Much for Apple
2. Google, Rockstar Suit Stays in Calif.
3. Samsung Tech Experts Talk Patents
4. Phones Annoy Patent Trial Judge
5. Apple vs. Samsung: Latest News




 Most Popular Articles
1. BlackBerry Drops T-Mobile After Nasty Spat
2. Cisco, IBM Launch Internet of Things Consortium
3. Salesforce CRM Gets Industry Specific for Internet of Customers
4. Intel Bets on Cloudera for Big Data Analytics
5. SAP HANA Data Warehouse App Gets Faster Analytics

 Related Topics  Latest News & Special Reports

  OnePlus One Boasts Android Weapon
  Officials Reveal Microsoft Data Center
  Samsung Gear Fit Geared for Exercise
  Google Sharpens Contact Lens Vision
  Hortonworks, Concurrent To Partner

 Technology Marketplace
Business Intelligence
Get real-time, cloud-based information services with Neustar.
 
Cloud Computing
Next Generation Data Center Is Here! Vblock™ Systems from VCE
 
Contact Centers
HP delivers the future of the contact center with HP Qfiniti 10.
 
Data Storage
Next Generation Data Center Is Here! Vblock™ Systems from VCE
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Enterprise Hardware
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Hardware
Protect your network with APC Smart-UPS battery backup
 
Network Security
Protect your network with APC Smart-UPS battery backup
 

Network Security Spotlight
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Where Do Web Sites Stand, Post-Heartbleed?
A security firm says the vast majority of Web sites have patched themselves to protect against the Heartbleed bug, but now there are questions raised on the reliability of open-source programs.
 
White House Updating Online Privacy Policy
A new Obama administration privacy policy explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites, saying much is in the public domain.
 
Navigation
CIO Today
Home/Top News | Enterprise Software | Enterprise Hardware | Big Data | Network Security | Cloud Computing | CRM Systems
Data Storage | Operating Systems | Communications | CIO Issues | Mobile Tech | Chips & Processors | World Wide Web
Business Briefing | After Hours | Press Releases
Also visit these Enterprise Technology Sites
Top Tech News | CIO Today | Mobile Tech Today | Data Storage Today

Services:
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About CIO Today Network | How To Contact Us | Article Reprints | Services for PR Pros (In partnership with NewsFactor) | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 CIO Today. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.