There's a mystery to the data Apple Inc. released for the first quarter of fiscal 2014. Its cash position has increased by $12 billion to $158.8 billion; it usually goes up in the first quarter, but why does it never go down? Based on the previous quarter's results, Carl Icahn -- whose company owns $4.7 billion worth of Apple shares, according to data compiled by Bloomberg News -- called the iPhone maker "perhaps the most overcapitalized company in corporate history."
Icahn's demands for a massive share buyback have fallen on deaf ears: Apple Chief Executive Officer Tim Cook countered them by saying the company already had a huge repurchase program in place. On the earnings call yesterday, Cook said this: "Last year we increased the program overall -- our cash return -- doubling it to $100 billion, and $60 billion of that is buyback and we've been progressing on that."