Carl Icahn says Apple is still undervalued; plans to increase his $203 price target

“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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12 Comments

    1. You are a moron. He is maybe the greatest value investor of all time, clobbering even Berkshire Hathaway long term by over ten points per year. From 1968 to 2011, he compounded at 31% annual, which is incomparable.

      Just be happy that he loves Apple. It would be impossible to receive a better endorsement.

      1. You’re a moron, and Icahn is a vulture. Being good at getting rich off of other people’s hard work isn’t admirable, especially when you have a history of destroying companies for short-term financial gain as an “activist investor.”

        The only thing I’m thankful for is that he’s no longer trying to manipulate Tim Cook, and is content to just cheer from the sidelines.

          1. Just because he plans to give back the majority of money he made off others back does not make him a good person. When is he giving it away? It’s like Bill Gates who’s been doing the same thing for the last decade and he’s still the richest man in the world. Carl Icahn is Gordon Gecko

  1. Urrgh! I am so sick of whiny people complaining how others got rich of the blood, sweat and tears of the poor people. Sure, everyone needs to be treated equally but without capitalists and entrepreneurs, driven by the need to succeed, none of us would have any jobs.

    Once you reach a certain level of success, money and wealth just becomes a way of keeping score. What does it really matter if you have 20 or 30 billion, you will never spend it on yourself anyway.

    We should appreciate people who take the risks and have the vision to make it big.

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