PUSHING HIS VIEW: In a letter to Apple chief executive officer Tim Cook on his website on May 18, Icahn said Apple should be trading at US$240 (RM860), nearly double its current stock price.
NEW YORK: Billionaire activist investor Carl Icahn said that mutual funds will increasingly realise that being underweight shares of Apple will hurt their performance as the technology giant continues to innovate.
"They are underweight Apple in relation to the index funds, and I think more and more of these funds will realise that's going to hurt their performance in the future as Apple continues to launch new products in new categories and continues to grow earnings," Icahn told Reuters.
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