Headline & BriefHeadlines Only . Apple Repurchases $14B of Own Shares in 2 Weeks, CEO Cook Says 8:03p ET February 6, 2014 (Dow Jones) Apple Repurchases $14B of Own Shares in 2 Weeks, CEO Cook Says By Daisuke Wakabayashi CUPERTINO, Calif. - Apple Inc. has bought $14 billion of its own shares in the two weeks since reporting financial results that disappointed Wall Street, Chief Executive Tim Cook told The Wall Street Journal. In an interview, Mr. Cook said Apple was "surprised" by the 8% decline in its shares on Jan. 28, the day after it reported quarterly results, and wanted to be "aggressive" and "opportunistic." With the latest purchases, Mr. Cook said Apple had bought back more than $ 40 billion of its shares over the past 12 months, which Mr. Cook said was a record for any company over a similar span. "It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do," said Mr. Cook, speaking in a conference room at the company's corporate headquarters here. "We're not just saying that. We're showing that with our actions." Those purchases are part of Apple's previously disclosed plan to repurchase $60 billion of its own shares, Mr. Cook said. He said Apple plans to disclose "updates" to its buyback program in March or April. The revelation about the recent share purchases comes a few weeks before Apple's Feb. 28 shareholder meeting, where activist investor Carl Icahn is pressuring the company to be more aggressive with its $160 billion cash pile . Mr. Icahn, who owns roughly $4 billion in Apple shares, is asking shareholders to vote on his proposal that Apple buy an additional $50 billion of its own shares by the end of September, above its current plan. Mr. Icahn did not immediately return a call seeking comment. "You want to be able to adjust for the long-term interest of the shareholders, not for the short-term shareholder, not for the day trader, " Mr. Cook said. "We may see a huge company tomorrow that we want to acquire or something may happen in the stock market that's unpredictable." Historically, Apple has not made big acquisitions; the company has never spent more than $1 billion on a single deal. Mr. Cook said Apple has bought 21 companies over the past 15 months. That track record is a contrast to Google Inc., which has been snapping up companies across the technology landscape, most notably with its $3.2 billion acquisition of Nest, a connected home device manufacturer founded by former Apple employees. The Apple CEO said its history of opting for smaller deals doesn't mean that the company will not pull the trigger on a big acquisition if it makes sense strategically or financially. "We've looked at big companies. We don't have a predisposition not to buy big companies. The money is also not burning a hole in our pocket where we say, 'let's make a list of 10 and pick the best one,'" said Mr. Cook. "We have no problem spending ten figures for the right company, for the right fit that's in the best interest of Apple in the long-term. None. Zero." Write to Daisuke Wakabayashi at D*****************[email protected] Subscribe to WSJ: http://online.wsj.com?mod=djnwires (END) Dow Jones Newswires February 06, 2014 20:03 ET (01:03 GMT) Copyright (c) 2014 Dow Jones & Company, Inc.DN201402060166382014-02-07