New York, May 19 (IANS) Billionaire investor and Apple shareholder Carl Icahn says that the real value of the technology giant is almost $1.5 trillion, double its current market capitalisation.
Icahn, one of the biggest investors in the California firm, emphasised in an open letter to Apple CEO Tim Cook that the television and automotive sectors offer the company a combined market of $2.2 trillion, Efe news agency reported on Monday.
For this and other reasons, the investor feels that Apple continues to be undervalued on the stock market and he says that the firm’s shares have a real value of $240, almost double their current price.
In recent months, several media outlets have said that Apple was in talks with several US television channels to offer a TV service through the web with some 25 channels in September.
According to The Wall Street Journal in March, the service will include programming from networks such as ABC, CBS and Fox and will be available on devices such as Apple TV.
In the automotive sector, Icahn gives credibility to the rumours that Apple before 2020 will unveil an automobile and feels that “it’s not a coincidence” that it’s considering a move of that kind because, then, self-driving vehicles will have captured a certain market share.
Icahn said that petroleum prices, climate change and other factors present Apple with an opportunity to “change the world” with its automobile, in which he believes lithium batteries — with which the firm has acquired much experience — will be a key component.