--- description: Carl Icahn tells Tim Cook Apple is worth $240/share title: Why This Investor Says Apple Is Worth More Than $1 Trillion image: https://static.time.com/v3/assets/bltea6093859af6183b/bltdbb4ba6fcd444efa/69884d00f887dc712be901b5/457617082-copy.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [stocks](/tag/stocks/) ## stocks Update your preferences in [Account Settings](/account/preferences/) Close # Why This Investor Says Apple Is Worth More Than $1 Trillion by [Dan Primack / Fortune](/author/fortune/) ## Dan Primack / Fortune Update your preferences in [Account Settings](/account/preferences/) Close May 18, 2015 3:28 PM CUT  Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York City on Oct. 21, 2014. Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York City on Oct. 21, 2014.Bloomberg/Getty Images by [Dan Primack / Fortune](/author/fortune/) ## Dan Primack / Fortune Update your preferences in [Account Settings](/account/preferences/) Close May 18, 2015 3:28 PM CUT Carl Icahn on Monday morning published an [open letter](http://www.shareholderssquaretable.com/carl-icahn-issues-open-letter-to-tim-cook/ "undefined") to Apple CEO Tim Cook, arguing that the tech giant’s stock is worth $240 per share. That would be 83.38% higher than today’s opening trades for Apple, and would bump the company’s market cap up to a whopping $1.38 trillion. Icahn also wants Apple’s board to undertake a push larger share buyback than the $50 billion package that is currently approved (which followed an $80 billion buyback for which Icahn had agitated). From Icahn’s letter: --- > “” --- This is hardly the first time Icahn has told Apple that its shares are severely undervalued. Back [in February](http://fortune.com/2015/02/11/icahn-values-apple-at-more-than-1-trillion/ "undefined"), he argued that the company’s shares were worth $216 a piece. _This_ [_article_](http://fortune.com/2015/05/18/carl-icahn-to-apple-youre-worth-more-than-1-trillion/ "undefined") _originally appeared on_ [_Fortune.com_](http://www.fortune.com "undefined")_._ ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3882668/apple-stock-carl-icahn-letter/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3882668/apple-stock-carl-icahn-letter/"},"headline":"Why This Investor Says Apple Is Worth More Than $1 Trillion","datePublished":"2015-05-18T15:28:26.000Z","dateModified":"2026-04-13T08:05:20.607Z","description":"Carl Icahn tells Tim Cook Apple is worth $240/share","url":"https://time.com/3882668/apple-stock-carl-icahn-letter/","keywords":["stocks","Tech","Apple","Companies","carl icahn"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltdbb4ba6fcd444efa/69884d00f887dc712be901b5/457617082-copy.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Dan Primack / Fortune"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltdbb4ba6fcd444efa/69884d00f887dc712be901b5/457617082-copy.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York City on Oct. 21, 2014.","caption":"Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York City on Oct. 21, 2014.","creditText":"Bloomberg/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/stocks/","name":"stocks"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3882668/apple-stock-carl-icahn-letter/","name":"Why This Investor Says Apple Is Worth More Than $1 Trillion"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"5 Ways Jonathan Ive Changed Your World","description":"Jonathan Ive has been essential in designing the envelope-pushing products for Apple for nearly two decades.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/U5Oyjh6b/poster.jpg?width=720","uploadDate":"2014-03-17T07:04:35.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/U5Oyjh6b.m3u8","embedUrl":"https://time.com/3882668/apple-stock-carl-icahn-letter/","duration":"PT3M22S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/3882668/apple-stock-carl-icahn-letter/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}}] ```