Apple's AAPL iPhone 5S and iPhone 5C are less than 24 hours away from release.
While staunch Apple supporter Carl Icahn IEP has not said whether or not he will purchase either device, the famed investor took another opportunity to reiterate his love for the Mac maker.
"I think Apple is very undervalued," Icahn told CNBC during an interview after the market close.
Icahn listed a handful of reasons to explain why he continues to believe that Apple is undervalued despite some concerns that domestic iPhone 5C sales may disappoint.
Market News and Data brought to you by Benzinga APIs- Apple has a ton of cash on hand.
- The company continues to earn billions in annual revenue.
- Roughly $45 billion is estimated to be added to its cash reserves every year.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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