Activist investor and billionaire Carl Icahn, during an interview with CNBC today, expressed confusion over The Wall Street Journal's recent report claiming that Apple scrapped its plans for a full television set more than a year ago. Icahn and his investment firm Icahn Enterprises remain confident that Apple will enter the television and automotive spaces, even as analyst Gene Munster admits he was wrong.


Icahn issued an open letter to Apple CEO Tim Cook on Monday in which he applauded the company for recently increasing its share repurchase authorization by $50 billion, and encouraged further acceleration of the stock buyback program. Icahn also valued Apple shares at $240 each and said the company will sell 55” and 65” ultra HDTVs in 2016 and introduce an Apple-branded car by 2020.

"After many years of rumors as part of Apple’s push into television and as we referenced previously, we expect in FY 2016 Apple will sell 55” and 65” ultra high definition television sets," said Icahn in his open letter. "We forecast revenues of $15 billion in FY 2016 and $37.5 billion in FY 2017 on 10 million and 25 million units respectively with average selling prices of $1,500."

The open letter also predicts that the iPhone will experience modest 2.3% revenue growth in the 2016 fiscal year, the iPad will rebound with a strong performance and revenue growth of 27.7% in FY 2016 and the Mac will continue to make gains over the next year. Icahn Enterprises predicts 10 million Apple Watch sales in the second half of 2015 and international expansion of Apple Pay.

Carl Icahn AAPL
Apple shares are currently trading at just over $130 as of publication time, giving the company a market capitalization of over $753 billion. In the past twenty-four hours, Apple surpassed the $750 billion market cap milestone for the first time as AAPL shares have risen following the open letter. Icahn himself has earned about $3.4 billion since announcing his position in the company in August 2013.

Top Rated Comments

ProVideo Avatar
116 months ago
At least MR has gone from the creepy scumbag picture to where Icahn could make a poor stand-in for the guy in the Dos Equis commercial. :p

BL.
40 year old virgin Do Equis guy.

Score: 15 Votes (Like | Disagree)
gugy Avatar
116 months ago
I doubt Apple will jump into the display business. Very low margins and huge competition. The current displays are great, the issue is more about the UI and content distribution. Apple doesn't need to create a display to improve these issues.
Score: 14 Votes (Like | Disagree)
ProVideo Avatar
116 months ago
I imagine Icahn's idea of a good time is sitting around and smelling his own flatulence.
Score: 13 Votes (Like | Disagree)
AxoNeuron Avatar
116 months ago
He's obviously just trying to pump up the price of Apple shares. I wouldn't take anything he says about Apple seriously.

Greedy people like Carl Icahn are like monkeys who manage to accumulate the largest number of bananas. They seem intent on becoming the richest people in the cemetery. If only they would instead use their talents on improving the human condition instead of spending so much time accumulating more bananas/acquiring more billions of dollars, we would be living in a better world.
Score: 8 Votes (Like | Disagree)
Z400Racer37 Avatar
116 months ago
Lmdao


"Nope." - Apple

"No, but I really REALLY think so though." - Carl Icahn

"#" - Apple
Score: 7 Votes (Like | Disagree)
MarximusMG Avatar
116 months ago
I barely made it through the entire 4 minute video listening to Icahn. The arrogance of this guy is beyond belief.
Score: 4 Votes (Like | Disagree)

Popular Stories

iOS 18 Siri Integrated Feature

iOS 18 Will Add These New Features to Your iPhone

Friday April 12, 2024 11:11 am PDT by
iOS 18 is expected to be the "biggest" update in the iPhone's history. Below, we recap rumored features and changes for the iPhone. iOS 18 is rumored to include new generative AI features for Siri and many apps, and Apple plans to add RCS support to the Messages app for an improved texting experience between iPhones and Android devices. The update is also expected to introduce a more...
iGBA Feature

Game Boy Emulator for iPhone Now Available in App Store Following Rule Change [Removed]

Sunday April 14, 2024 8:06 am PDT by
A week after Apple updated its App Review Guidelines to permit retro game console emulators, a Game Boy emulator for the iPhone called iGBA has appeared in the App Store worldwide. The emulator is already one of the top free apps on the App Store charts. It was not entirely clear if Apple would allow emulators to work with all and any games, but iGBA is able to load any Game Boy ROMs that...
iGBA Feature

Apple Removes Game Boy Emulator iGBA From App Store Due to Spam and Copyright Violations

Sunday April 14, 2024 9:22 pm PDT by
Apple today said it removed Game Boy emulator iGBA from the App Store for violating the company's App Review Guidelines related to spam (section 4.3) and copyright (section 5.2), but it did not provide any specific details. iGBA was a copycat version of developer Riley Testut's open-source GBA4iOS app. The emulator rose to the top of the App Store charts following its release this weekend,...
iOS NES Emulator Bimmy Feature

NES Emulator for iPhone and iPad Now Available on App Store [Removed]

Tuesday April 16, 2024 11:33 am PDT by
The first approved Nintendo Entertainment System (NES) emulator for the iPhone and iPad was made available on the App Store today following Apple's rule change. The emulator is called Bimmy, and it was developed by Tom Salvo. On the App Store, Bimmy is described as a tool for testing and playing public domain/"homebrew" games created for the NES, but the app allows you to load ROMs for any...
m3 mbp space black

M4 Macs Are Expected to Launch in This Order Starting Later This Year

Sunday April 14, 2024 10:40 am PDT by
Bloomberg's Mark Gurman recently reported that the first Macs with M4 series chips will be released later this year, with more models to follow next year. In his Power On newsletter today, Gurman shared a more specific roadmap for these Macs. Here is the order in which Gurman expects the Macs to launch:1. A low-end 14-inch MacBook Pro with the M4, coming around the end of 2024. 2. A 24-inch ...
iOS 18 Siri Integrated Feature

Apple's First AI Features in iOS 18 Reportedly Won't Use Cloud Servers

Sunday April 14, 2024 9:52 am PDT by
Apple's first set of new AI features planned for iOS 18 will not rely on cloud servers at all, according to Bloomberg's Mark Gurman. "As the world awaits Apple's big AI unveiling on June 10, it looks like the initial wave of features will work entirely on device," said Gurman, in the Q&A section of his Power On newsletter today. "That means there's no cloud processing component to the...
new best buy blue

Best Buy Opens Up Sitewide Sale With Record Low Prices on M3 MacBook Air, iPad, and Much More

Saturday April 13, 2024 7:41 am PDT by
Best Buy this weekend has a big sale on Apple MacBooks and iPads, including new all-time low prices on the M3 MacBook Air, alongside the best prices we've ever seen on MacBook Pro, iPad, and more. Some of these deals require a My Best Buy Plus or My Best Buy Total membership, which start at $49.99/year. In addition to exclusive access to select discounts, you'll get free 2-day shipping, an...
top stories 13apr2024

Top Stories: M4 Mac Roadmap Leaked, New iPads in Second Week of May, and More

Saturday April 13, 2024 6:00 am PDT by
Apple's hardware roadmap was in the news this week, with things hopefully firming up for a launch of updated iPad Pro and iPad Air models next month while we look ahead to the other iPad models and a full lineup of M4-based Macs arriving starting later this year. We also heard some fresh rumors about iOS 18, due to be unveiled at WWDC in a couple of months, while we took a look at how things ...