In the corporate raider's latest missive he reiterates in public the points he presumably made to Cook in private: That Apple is 1) seriously undervalued, 2) holds far more cash than is healthy and 3) ought to boost its $60 billion share repurchase plan -- already a record -- to $150 billion.
Below the fold: The text of his letter, courtesy of Fortune's Dan Primack.
Tim Cook spent a record $16 billion last quarter. Carl Icahn wants him to spend more.
FORTUNE -- In April, Apple (AAPL) announced what is apparently the largest share repurchase program in the history of capitalism: $60 billion before the end of 2015.
By the end of June the company had already bought $16 billion worth of its own stock -- more than 25% of its eleven-quarter allocation in the space of MOREPhilip Elmer-DeWitt - Sep 26, 2013 4:44 PM ET
|Boost for trade as global deal struck|
|Someone bought a $100,000 Tesla with Bitcoins|
|2 million Facebook, Gmail and Twitter passwords stolen in massive hack|
|Economy is improving but why doesn't it feel that way?|
|Five key numbers behind the jobs recovery|