Apple Inc. (AAPL) Nine Times Earnings Ex Cash, Still No Brainer Says Icahn
Apple Inc. (NASDAQ:AAPL) is apparently still a no brainer. Carl Icahn didn’t tweet this time but he did appear on CNBC’s Fast Money to tell Melissa Lee that the stock is still a no brainer and still his favorite stock. Additionally he addressed rumors about buying shares in Twitter Inc (NYSE:TWTR) and had some words for those that are spreading rumors he’s involved in things.
Thoughts on Apple
Icahn talked about how believes that in the industry they are in, it is extremely, extremely difficult to compete with them and patted himself on the back for pushing the company to increase their buyback. He also added that he thinks the company is almost better than it was when he initially talked about it. He pointed to the way the iPhone 6 worked out and to the cheap earnings valuation and mentioned he hasn’t sold a share but has bought a little more.
Icahn quote on Apple
“So if you look at this company, and you subtract the cash from it, you are going in at nine times earnings, and you are in a company that is in the greatest growth industry in the world with certainly part of an oligopoly if not a monopoly in their product. So you are going to be talking about it a long time. So I obviously haven’t sold a share of it.”
Icahn dismissed Rumors
Melissa Lee also addressed rumors he was taking up a stake in Twitter. Icahn dismissed questions about Twitter, saying he didn’t want to get involved in it and that he wasn’t the right guy to talk about it. He also mentioned he gets a little angry with people that come out with these rumors that he’s buying something or getting involved in something.
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