Billionaire Carl Icahn Calls On Apple To Shrink Its Stock Pool
(KCBS) -- Nothing gets a stock moving like a billionaire investors telling everyone he thinks its double its current value.
That's the story with Apple (AAPL) and Carl Icahn today, with the activist investor saying in a letter written to Apple CEO Tim Cook that he believes the firm to be worth a staggering $240 a share, compared to its current price of around $130, which gives the company a world-leading market valuation of $751 billion.
Icahn isn't just throwing the number out there for fun, he's imploring Cook once again to increase the company's stock buybacks, noting that while he's pleased with the $80 billion in shares already repurchased by Apple, that the buybacks should be accelerated by a greater magnitude.
Icahn believes that Apple will enter the TV market next year, and autos in 2020, and will likely dominate each market for technology.
