Billionaire Investor Believes Apple is Still Undervalued, Despite High Earnings

Following Apple’s announcement of record breaking quarterly results yesterday, billionaire investor Carl Icahn has expressed his views on the Cupertino tech giant’s valuation on Twitter, saying that AAPL is still “undervalued and misunderstood”. He added that he expects to put out an “in-depth” report within two weeks (via Reuters).

$AAPL is still undervalued and misunderstood. Expect to put out another in-depth report within two weeks.

— Carl Icahn (@Carl_C_Icahn) April 28, 2015

Icahn has been vocal about his belief that Apple is undervalued in the past as well, and has been urging the company’s board to buy back more shares using its huge cash pile, while pledging to keep his own stock out of any repurchase.

Apple, being the most valuable publicly traded U.S. company, beat Wall Street’s revenue and profit forecasts yesterday, as it raised its quarterly dividend by 11% to 52 cents per share and boosted its share buyback program to $140 billion from $90 billion.

Previously, the 79-year-old, who is one of Apple’s top 10 investors, has predicted that Apple stock should be trading at $216 per share.