All Eyes on Uncle Carl Ahead of Apple (AAPL) Open Letter

Apple (NASDAQ: AAPL) traders will be paying close attention to Carl Icahn's Twitter feed (and Facebook and Tumblr) today in anticipation of his "open letter" to CEO Tim Cook.

Yesterday, Mr. Icahn informed the world via his Twitter account that "Tmrw we’ll be sending an open letter to @tim_cook. Believe it will be interesting."

Mr. Icahn has been in the stock for just over a year, with the position gaining over 50% during that time.

Speculation centers around another call from Mr. Icahn on share repurchases/dividends and/or M&A.

Last year, Icahn initially pushed the company for a $150 billion share repurchase but than formally filed a proposal for a smaller $50 billion plan. Later he withdrew the proposal all together. It is possible that Mr. Icahn can go back to the well on the push for an increased repurchase plan.

Separately, speculation suggests Mr. Icahn can push the company for M&A. Yesterday's speculators quickly jumped on Icahn's portfolio stocks Nuance Communications (NASDAQ: NUAN) and Netflix (NASDAQ: NFLX) on the possibility that Icahn can push for a deal with either of the two. Another name that comes up in Apple circles in Pandora (NYSE: P).

Either way, today should make for an exciting day for Apple traders and investors. In fact, shares of Apple are already benefiting from an upgrade today at Oppenheimer.

Tmrw we’ll be sending an open letter to @tim_cook. Believe it will be interesting.

— Carl Icahn (@Carl_C_Icahn) October 8, 2014

You May Also Be Interested In

• SES buys back 213,167 shares for equity compensation plan
• Zions Bancorporation raises dividend, approves $75M share buyback
• Couche-Tard to acquire Żabka Group in $8.6B tender offer