Carl Icahn: We Are Going To Revise Our Guidance On Apple

Tech giant Apple Inc. AAPL came with much better than expected fourth-quarter results on Tuesday, vindicating billionaire investor and chairman of Icahn Enterprises LP IEP, Carl Icahn, take on the stock. Icahn was on CNBC Wednesday to share his opinion on Apple’s quarterly results; he also revealed that he will be raising his guidance on the stock.

“We are very pleased with this,” Icahn said. “Of course we recommended this when we had that tweet a year and a half ago. I don’t recommend too many stocks. I don’t like to that unless I think it’s a no-brainer and this one is sort of amazing to me because every decade you get one of these maybe two or three. I remember, way back in the day Nabisco sold at $1 when we spun off Reynolds that ages me somewhat and when we spun-off it was $1 and we knew it was worth $8 and the Street didn’t [pick it up] in that case couple of months.”

He continued, “And this one, they haven’t really understood this stock for, I don’t believe they have, for year, year and a half now and I guess we recommended it, it’s a big stock and I like to do that for Twitter followers and we are very pleased with the results. If anything, I think we are going to revise that guidance, we just came out with a report on it in October, but a price target on it of about $200 and I think we are going to revise that.”