Carl Icahn told FOX Business Network’s Neil Cavuto on Tuesday that he has ¨absolutely no intention of selling” Apple (AAPL) stock and that according to him “AAPL is one of the cheapest stocks around” when compared with stocks like Netflix (NFLX) and Chesapeake (CHK). Ican also said Cook agreed in terms of the tech giant being “very undervalued” and praised the CEO for being a “great guy” and “great operator.”
When asked about ending his fight to persuade Apple to repurchase $50 billion of its own stock, Icahn noted that while shareholders do like the management in the case of Apple, “for the last five years Apple has spent over $18 billion in research and development, but a lot of that hasn’t been seen yet by the shareholders.”
Icahn has a substantial investment in the tech company in the form of 3.9 million shares.
Apple ranged between $533 and $539 during the day, closing at $535.36.
Click here for full Icahn interview.