“Activist investor Carl Icahn believes shares of Apple should be valued much higher than their current trading price, and on Wednesday said he even plans to revise his own price target for the stock, which he called a ‘”no-brainer’ investment,” Neil Hughes reports for AppleInsider.
“The billionaire appeared on CNBC on Wednesday, where Icahn said he and his team are pleased with Apple’s impressive quarterly results,” Hughes reports. “‘I don’t recommend too many stocks, I don’t like to do that unless I think it’s a no-brainer,'” Icahn said.”
“According to Icahn, investors on Wall Street haven’t ‘understood’ Apple for about a year and a half. He issued a note to Apple Chief Executive Tim Cook last October encouraging him to buy back more shares, and at the time said his own models suggest the company should be trading at around $203,” Hughes reports. “Given this week’s blockbuster December quarter results, Icahn said Wednesday that he’ll probably have to rethink that $203 price target — suggesting it could go even higher.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]
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