Natalie Parkinson
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Apple’s share at $700?


Hedge fund billionaire Carl Icahn took a "large" position in Apple Inc. (AAPL.O) shares and told Reuters on Tuesday that he believes Apple should trade at $700 a share.

In a telephone interview, Icahn said he believes "Apple has the ability to do a $150 billion buyback now by borrowing funds at 3 percent.

"If Apple does this now and earnings increase at only 10 percent, the stock - even keeping the same multiple currently - should trade at $700 a share."

http://www.reuters.com/article/2013/08/13/us-funds-icahn-apple-idUSBRE97C0XK20130813

Do you think it reasonable opinion?