May 18 Apple Inc remains “dramatically undervalued”, activist investor Carl Icahn said on Monday, adding that it was time for the iPhone maker to execute a much larger share buyback.
“After reflecting upon Apple’s tremendous success, we now believe Apple shares are worth $ 240 today,” Icahn wrote in an open letter to Chief Executive Tim Cook. (bit.ly/1QXgpia) (Reporting by Anya George Tharakan in Bengaluru; Editing by Saumyadeb Chakrabarty)
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