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Here's Why Carl Icahn Thinks Apple Will Surge to $240 per Share

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Can Carl Icahn Really Influence Apple?

Carl Icahn is out with a new letter to Tim Cook arguing that Apple should buy back more shares and that the stock is grossly undervalued. He says it should be worth $240/share. That's up dramatically from the $130.50 level it trades at today.

First, here's Icahn's core argument for why the stock could be worth that much:

After reflecting upon Apple’s tremendous success, we now believe Apple shares are worth $240 today. 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. We believe this may lead to a...


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