In terms of whether the marketplace is well addressed by mobile payments solutions, Tim Cook has said “I think it is in its infancy… I think it is just getting started and just of out of the starting block.” With the fingerprint sensor, iBeacon, 575+ million credit card numbers stored in iTunes, and Apple’s homogeneous iOS installed base with 79% of devices using iOS 7, we believe a revolutionary payments solution is now a very real opportunity that the company could choose to pursue.” Though the company has remained vague on its new products, it did at least confirm that consumers can expect something in the wings this year. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks,” Cook said in July, “and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.” Repurchases Icahn hopes to use the above arguments to strengthen his case that the stock’s undervaluation merits a further strengthening of its share buyback plan. In large part due to the effort of some activist investors, the company agreed in April to expand its capital return program by $55 billion to $100 billion by the end of calendar year 2015. The amount averages to $30 billion annually. Under the program, the repurchase of a historic $60 billion in share repurchases was authorized, as opposed to the $10 billion in repurchases it announced the previous year. “We are very fortunate to be in a position to more than double the size of the capital return program we announced last year,” said Tim Cook, Apple’s CEO.