Legendary investor Carl Icahn thinks Apple is way undervalued — and it kind of pisses him off. Why does no one else see that the market value of Apple is absurdly low? That’s the incredulous tone Icahn takes in his open letter to Apple CEO Tim Cook saying that multiple “failures” by analysts “have caused Apple’s earnings multiple to stay irrationally discounted.”
Icahn thinks Apple is worth $240 a share today. Apple shares were trading at near $128 on Monday. At Icahn’s valuation, Apple — already the most valuable company in the world – would have a market cap of $1.4 trillion.