Why Apple Won't Go As High As Carl Icahn Wants, But Yet You Shouldn't Underestimate The Company

Cantor Fitzgerald's analyst Brian White recently raised his price target on Apple Inc.

to $180 and activist investors and chairman of Icahn Enterprises LP

, Carl Icahn, famously has $203 as his price target for Apple. However, not everyone is as bullish on the company. David Kudla, CEO & chief investment strategist at Mainstay Capital Management, was on CNBC recently to discuss the price target that his firm has on Apple and why one shouldn't underestimate the company. Not As High "We are not as high on our price target as either Brian White or Carl Icahn, but Carl Icahn has the ability to move the stock higher," Kudla said. "As long as he is there as an activists, he is going to keep seeking financial engineering to improve the share price through dividend through share buybacks, specifically share buybacks. But we look across the product-line, the great sales they have had with the iPhone 6 and 6 Plus in China and in the U.S." He continued, "They are returning cash to shareholders, they are [topping] the share price and we have Apple TV coming, Apple Pay is doing well, there have been [some] security issues, but doing well and the Apple Watch and all these things continue to build that ecosystem." Don't Underestimate Apple Kudla was asked if the 20 million sales figure that some are expecting for the Apple Watch is too optimistic. He replied, "If we look at what Apple has done and with it coming to technologies or products that have been around for decades and revolutionized them. The phone and what they'll probably do to TV. Apple Watch is probably if anything been underrated." "I think we are looking at somewhere between 15 and 25 million in sales. The key here is not to underestimate what Apple has been able to do in these product categories, how they integrate hardware and software and how all of these different devices are integrated,"