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Here's Why Carl Icahn Thinks Apple Will Surge to $240 per Share

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Can Carl Icahn Really Influence Apple?

Carl Icahn is out with a new letter to Tim Cook arguing that Apple should buy back more shares and that the stock is grossly undervalued. He says it should be worth $240/share. That's up dramatically from the $130.50 level it trades at today.

First, here's Icahn's core argument for why the stock could be worth that much: