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

Tech giant Apple Inc. (NASDAQ: AAPL) came with much better than expected fourth-quarter results on Tuesday, vindicating billionaire investor and chairman of Icahn Enterprises LP (NASDAQ: 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.”