Activist hedge fund manager Carl Icahn still doesn’t think investors get it. Apple’s market cap is about $760 billion, roughly double that of the US stock market’s next-largest company, Microsoft.
The company reported another unbelievable quarter with iPhone sales, earnings, revenue, and all topping expectations. Apple also announced that it would return $200 billion to shareholders over the next two years. But the Icahn is not satisfied yet. In a tweet today (Tuesday) the 79-year-old shareholder activist said:
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“Apple is still undervalued and misunderstood. Expect to put out another in-depth report within two weeks”
Icahn owns about 52 million shares of Apple, a stake that at today’s market price of $132 is worth about $6.8 billion, According to his latest filings with the SEC.
