Ignore the Market on Apple Inc. (AAPL)

As far as the pricing of the new iPhone models is concerned, Icahn isn’t giving it a second thought:

I will tell you, at the risk of being immodest, that we have one of the best records around over the last decade, over the last year. I will tell you this: I’ve learned one thing: Don’t micromanage. Don’t go in and tell somebody else how to run their business. I look at it from the big picture: We go into companies and we tell them how to run their finances, we tell them how to buy pencils instead of buying from their cousin Vinnie, for example. But we don’t tell them what to do in this situation…

I would be the most presumptuous person in the world to sit there and tell them they shouldn’t price it this way. I just look at what they’re doing: They have one of the best brands, they are building revenue… I think Tim Cook is doing a very good job… Don’t tell the CEO who spends 20 hours a day, hopefully, doing his job and has been doing it for thirty years, “Hey, you shouldn’t go into China” or “You should…” — that’s the height of presumption.

Icahn’s case for Apple Inc. (NASDAQ:AAPL) may not be sufficient justification to go out and buy the stock immediately, but, given his track record, it’s certainly reason enough for value hounds to prick up their ears and begin sniffing around the shares.

The article 1 Reason to Ignore the Market on Apple originally appeared on Fool.com.

Fool contributor Alex Dumortier, CFA has no position in any stocks mentioned; you can follow him on LinkedIn. The Motley Fool recommends and owns shares of Apple. 

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