Apple shares are only half the price they should be says Carl Icahn

It’s likely that Tim Cook doesn’t exactly look forward to hearing from Carl Icahn, but it’s difficult to argue that the activist investor isn’t a massive cheerleader for Apple. As promised, Icahn published his open letter to Tim Cook today and the big surprise (spoiler alert!) is that he feels his 45 million shares of AAPL stock are grossly undervalued.

Apple shares are trading at half the price they should be, said activist investor Carl Icahn, who as one of the technology giant’s largest shareholders pushed Apple to return more of its cash hoard to shareholders. In a letter to Apple Chief Executive Tim Cook titled, “Sale: Apple Shares at Half Price,” Icahn said he believes the stock AAPL, +0.22% “should trade at $203 per share today,” which is a little more than double Wednesday’s closing price of $100.80.