Scalper1 News
Billionaire activist investor Carl Icahn pounded the table for Apple (AAPL) on Monday, saying the stock is way undervalued. In an open letter to Apple CEO Tim Cook, shareholder Icahn said Apple stock is worth $240 a share, 86% higher than Friday’s closing price of 128.77. Apple was up over 1%, above 130, in afternoon trading in the stock market today. Icahn assumes Apple will enter the TV market next year and the electric car market by 2020. Apple has yet to confirm either move. “Apple is poised to enter and in our view dominate two new categories (the television next year and the automobile by 2020) with a combined addressable market of $2.2 trillion, a view investors don’t appear to factor into their valuation at all,” Icahn said. Scalper1 News
Scalper1 News