Carl Icahn, who would like to see Apple (AAPL) ramp up the size and pace of its stock buybacks, said that he has no intention of starting a proxy fight with the company to press his point.
Speaking on CNBC’s “Fast Money: Halftime Report,” the activist investor, who in an open letter to Tim Cook Thursday called the company “one of the best investments we have ever seen”, said “[t]here will never be a proxy fight with Apple and me,” reiterating the fact that he has confidence in the company’s CEO. Icahn also said he believes that AAPL is worth over $200 per share, based on the success of the new iPhone 6 as well as upcoming products such as the iWatch and rumored Apple TV.
“[W]e believe Apple is dramatically undervalued in today’s market, and the more shares repurchased now, the more each remaining shareholder will benefit from that earnings growth,” Icahn said in the letter.
When asked what he might do if Apple rejects his suggestion to buy back more shares, Icahn, who controls 53 million AAPL shares, giving him about a 0.9% ownership in the iPhone maker, said to CNBC he would still be the company’s friend.
“I’m their buddy,” he said.
Apple shares are currently changing hands at $100.92, up 0.07 percent. The stock is up a 45.18% y/y, and 25.91% ytd.