Unpacking Carl Icahn's claim Apple is undervalued: Is Apple a trillion dollar company? Last week US investor Carl Icahn wrote an open letter to Apple CEO Tim...

Unpacking Carl Icahn's claim Apple is undervalued: Is Apple a trillion dollar company? Last week US investor Carl Icahn wrote an open letter to Apple CEO Tim Cook last week, arguing Apple stock currently valued at US$103 could be worth as much as US$203 per share. Morningstar Research Senior Equity Analyst Brian Colello believes Apple can gain share in the high end smartphone market, however believes Icahn's projections are overly optimistic. Colello believes competitors will continue to put significant price pressure on the iPhone and profitability. He considers potential double-counting in some projections and questions the continued appeal of Apple stock to investors if it is a $1.2 trillion valuation. (VIEW LINK)