Activist investor Carl Icahn waved the white flag Monday in his high-profile campaign to prod Apple into buying back $50 billion worth of stock. He is now voicing support for the tech giant's "aggressive" moves to buy back shares.
His statement came a day after a proxy advisory firm recommended that company's shareholders vote against Icahn's plan. Icahn had been agitating for months, pressing Apple to spend more of its cash pile while simultaneously adding to his own positions
In a letter, the billionaire said while he was "disappointed" that shareholder firm ISS recommended that Apple shareholders vote against his plan, he saw "no reason to persist with our non-binding proposal, particularly as the company is already so close to fulfilling our requested repurchase target."