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  • Icahn's Letter to Cook May Help Lift AAPL Shares in Coming Weeks

    On Thursday, billionaire and prominent AAPL shareholder (he has 53 million shares) Carl Icahn once again reached out to Apple CEO Tim Cook.

    But it seems this message has been more widely received and embraced by the investment community than any other Icahn has ever sent to Apple. Consequently, on Friday, a number of leading of market analysts and Wall Street watchers proposed that the strong argument and projections put forward in Icahn's letter may help to elevate shares further in weeks to come.

    While more reserved than others, analyst Amit Daryanani of RBC Capital Markets has put a price target of $114 on AAPL, although hitting $125 isn't out of the question he says. If anything, the analyst proposes, Icahn's publicly expressed optimism for Apple "helps create a floor for the stock."

    So where's that floor? Around the $95 level, Daryanani tells investors. Of course, Icahn thinks there's only one direction for shares of Apple -- up, up, and away. Icahn said yesterday that he believes shares of Apple are so undervalued that they could eventually reach $200.

    Source: AppleInsider
    This article was originally published in forum thread: Icahn's Letter to Cook May Help Lift AAPL Shares in Coming Weeks started by Michael Essany View original post