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
|GM's recalled Cobalt was a failure from the start|
|Michaels hack hit 3 million|
|Why you should pay off your car loan ASAP|
|Americans have fallen in love with real estate once again|
|Walmart offers cheaper money wire service|