10 years, 1 month ago

Icahn values Apple at more than $1 trillion

Activist investor and major Apple Inc shareholder Carl Icahn said the iPhone maker’s stock should be trading at $216, far above its record high of $124.92 hit on Wednesday. At $216 per share, Apple - already the world’s most valuable company - would be worth about $1.3 trillion, or about the size of South Korea’s gross domestic product. Icahn said Apple should be trading at 20 times earnings per share, which taken together with net cash of $22 per share works out to $216 per share. “This is why we continue to own approximately 53 million shares worth $6.5 billion, and why we have not sold a single share,” Icahn said in a letter to his Twitter followers.

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