Tag Archives: aapl

Wall Street, news media ‘misunderstand’ Apple, Carl Icahn says

Billionaire activist investor Carl Icahn pounded the table for Apple (AAPL) on Monday, saying the stock is way undervalued. In an open letter to Apple CEO Tim Cook, shareholder Icahn said Apple stock is worth $240 a share, 86% higher than Friday’s closing price of 128.77. Apple was up over 1%, above 130, in afternoon trading in the stock market today. Icahn assumes Apple will enter the TV market next year and the electric car market by 2020. Apple has yet to confirm either move. “Apple is poised to enter and in our view dominate two new categories (the television next year and the automobile by 2020) with a combined addressable market of $2.2 trillion, a view investors don’t appear to factor into their valuation at all,” Icahn said.

Apple bolsters mapping capabilities with acquisition

Apple (AAPL) has purchased Coherent Navigation, a Global Positioning System software company, in a move to catch up with rivals in location-based technology. Apple confirmed the acquisition on Sunday, saying it buys smaller technology companies from time to time, the New York Times reported. Apple declined to discuss its plans for Coherent, a startup based in San Mateo, Calif., nor did it disclose the purchase price. Coherent Navigation developed a commercial high-precision navigation service that leverages the Iridium (IRDM) satellite network. Applications for its technology include agriculture, surveying, construction, mining, and oil and gas exploration. Coherent CEO Paul Lego is now a member of the Apple Maps team, according to his LinkedIn profile. Apple launched its Apple Maps software as a mobile app in September 2012, and it was roundly criticized for incorrect maps and poor routing. Apple made Apple Maps the default mapping…

Apple Pay Stands To Gain From MCX Disarray

Apple Pay stands to gain from disarray at MCX, a consortium backed by major retailers, but Apple (AAPL) still needs to drive usage of its mobile wallet with better loyalty and rewards programs designed with merchants, says Goldman Sachs. With Best Buy (BBY) in late April joining Apple Pay’s growing roster of merchant supporter, the MCX consortium appears to be “dealing with potential execution issues ahead of the launch” of its CurrentC mobile