Icahn “team” wants Apple to buy back more stock
Carl Icahn doesn’t like to recommend stocks unless it is a “no brainer,” he said in a recent CNBC interview, crowing over his successful investment in Apple Computer.
On the phone with CNBC’s Scott Wapner in the wake of Apple’s strong earnings report, he mused about the good fortune of finding the needle in the haystack. “Every decade you get one of these,” Icahn said of a stock the market undervalued, harkening back to when “Nabisco sold for one when we spun of Reynolds and we knew it was worth eight.” In 1999 RJR Nabisco sold R.J. Reynolds, creating a tremendous value investment for Icahn.
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