Carl Icahn, the activist and investor, says that Apple is still undervalued and misunderstood. Apple put out amazing results today, he says, and he will put out his own report on the company’s results within the next two weeks.
For the first time, Apple did better than anticipated according to Wall Street analysts when it came to profit and revenue; the company sold more iPhones in China than in the U.S. for the first time in history. In addition, Apple raised its quarterly dividend share to 522 cents per share and increased the buyback program to $140 billion. This is up from $90 billion.
Icahn is pressing the company to buy back more shares. He’s one of Apple’s top 10 investors and has promised that he will keep his own stock out of any repurchase.
