I am very long on Apple and have been for years. But please don't make it sound like the management has strategically taken downside risk off the table. Quite the contrary. Apple BOD and CEO, CFO have been negligent to investors. iCahn warned Cook - if you do not buy back, expect pressure. I won't go away means he will go legal or proxy fight route. He must know something, he's got other big investors on his side. This is why the stock has been up. If by earnings Cook does not reveal a massive buyback this last quarter there will be mutiny.