Why This Investor Says Apple Is Worth More Than 1 Trillion
Carl Icahn on Monday morning published an open letter to Apple CEO Tim Cook, arguing that the tech giant's stock is worth 240 per share. That would be 83.38 higher than today's opening trades for Apple, and would bump the company's market cap up to a whopping 1.38 trillion. Icahn also wants Apple's board to undertake a push larger share buyback than the 50 billion package that is currently approved which followed an 80 billion buyback for which Icahn had agitated. From Icahn's letter, This is hardly the first time Icahn has told Apple that its shares are severely undervalued. Back in February, he argued that the company's shares were worth 216 a piece.