Institutional Shareholder Services tells clients that the activist investor's buyback proposal is unnecessary in light of recent stock repurchases and dividend payouts.
JP Morgan's Mark Moskowitz would rather see Apple pour more of its cash into new products and services.
The billionaire investor tweets that Apple's board is doing a "great disservice to shareholders."
The investor files a "precatory proposal" to Apple calling for shareholders to vote on the terms of its buyback program.
The effect of that buyback could be dramatic, Icahn says in letter to CEO Tim Cook: in three years, Apple's share price could swell to $1,250.
Apple has a $60 billion share buyback program to use cash and increase its share price, but shareholder Carl Icahn said he'll discuss increasing it with Tim Cook.
With $145 billion in the bank, Apple has been under increasing pressure to return more money to shareholders. Now it responds -- big time.
Now could be the best time to get the most buyback value for your old iPhone before the iPhone 6 officially launches and prices drop. Crave's Eric Mack has done some of the research for you.
The chipmaker boosts its stock buyback plan by $20 billion, as it seeks to trim its cash balance and return more money to shareholders.
The activist investor now owns 27.8 million shares of eBay and more than 7.5 million shares of Apple, according to The Wall Street Journal.