It is highly doubtful that Apple will buy back shares and if they did, $425-440 would be the price. Don't believe for a minute that Ichans $1 billion investment will have any impact on any buyback whatsoever. Also, Ichan may lose several hundred million on his aggressive gamble.
Apple was $398 a share in June, nothing in the Company's operations and product line that is not already publicly known can justify a $104 jump in share price from there except pure speculation.
Yeah the guy posting that a further Buyback is DOUBTFUL and STOCK OVER-VALUED, is either stupid or just touting his short trading position. Apple can easily buy back all its equity just from its present positive cash-flow. If Apple can borrow at 3%, as Icahn says it can to borrow $150 billion, then this only costs Apple 2.25% after-tax (since interest paid is tax deductible). This is LESS than the % Dividend it pays, so it costs Apple less in interest costs to buy its stock back than the dividend it presently pays, on the shares that would be retired. Hence its cash-flow positive to buy back shares, even on top of the fact that it keeps the rest of the profit entirely (12 PE Inverse is 8.5% earnings, which from every bought-back share then accretes to rest of the shares).