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Activist investor and billionaire Carl Icahn, during an interview with CNBC today, expressed confusion over The Wall Street Journal's recent report claiming that Apple scrapped its plans for a full television set more than a year ago. Icahn and his investment firm Icahn Enterprises remain confident that Apple will enter the television and automotive spaces, even as analyst Gene Munster admits he was wrong.

Icahn issued an open letter to Apple CEO Tim Cook on Monday in which he applauded the company for recently increasing its share repurchase authorization by $50 billion, and encouraged further acceleration of the stock buyback program. Icahn also valued Apple shares at $240 each and said the company will sell 55" and 65" ultra HDTVs in 2016 and introduce an Apple-branded car by 2020.
"After many years of rumors as part of Apple's push into television and as we referenced previously, we expect in FY 2016 Apple will sell 55" and 65" ultra high definition television sets," said Icahn in his open letter. "We forecast revenues of $15 billion in FY 2016 and $37.5 billion in FY 2017 on 10 million and 25 million units respectively with average selling prices of $1,500."
The open letter also predicts that the iPhone will experience modest 2.3% revenue growth in the 2016 fiscal year, the iPad will rebound with a strong performance and revenue growth of 27.7% in FY 2016 and the Mac will continue to make gains over the next year. Icahn Enterprises predicts 10 million Apple Watch sales in the second half of 2015 and international expansion of Apple Pay.

Carl-Icahn-AAPL.jpg
Apple shares are currently trading at just over $130 as of publication time, giving the company a market capitalization of over $753 billion. In the past twenty-four hours, Apple surpassed the $750 billion market cap milestone for the first time as AAPL shares have risen following the open letter. Icahn himself has earned about $3.4 billion since announcing his position in the company in August 2013.

Article Link: Carl Icahn Still Believes in Apple HDTV as AAPL's Market Cap Surpasses $750 Billion
 

gugy

macrumors 68040
Jan 31, 2005
3,721
4,944
La Jolla, CA
I doubt Apple will jump into the display business. Very low margins and huge competition. The current displays are great, the issue is more about the UI and content distribution. Apple doesn't need to create a display to improve these issues.
 

filmantopia

macrumors 6502a
Feb 5, 2010
794
2,118
He makes a good point. I have also noticed that Tim has taken time to discuss the poor state of TV in several high-profile interviews including Charlie Rose. I think there is definitely something bigger in the works tv-related, whatever it is.

Perhaps this sudden anti-Apple TV rumor was designed to throw us off of a trail.
 

ProVideo

macrumors 6502
Jun 28, 2011
497
688
I imagine Icahn's idea of a good time is sitting around and smelling his own flatulence.
 

bradl

macrumors 603
Jun 16, 2008
5,390
16,457
At least MR has gone from the creepy scumbag picture to where Icahn could make a poor stand-in for the guy in the Dos Equis commercial. :p

BL.
 

MarximusMG

macrumors 6502a
Jan 21, 2009
699
4
Denver
I barely made it through the entire 4 minute video listening to Icahn. The arrogance of this guy is beyond belief.
 

BMcCoy

macrumors 68000
Jun 24, 2010
1,711
3,399
Oh to be in Apple HQ - "new product development room" today....

They must be enjoying this little media frenzy...

(Regardless of whether they have shelved the TV, or are actually watching 'The Big Bang Theory' on it RIGHT NOW..!!) ;-)
 

ricci

macrumors 6502
Aug 21, 2012
259
13
NYC
A fanboy with money and investment experience to back the talk! But I'm sure the "other " crowd will still talk mindless doodoo!!
 

Gildarts

macrumors regular
Oct 20, 2014
236
171
Maybe Jimmy can clear this one up?

Though I doubt we'd need him to do that. It's clear (and has been for a while) that Apple will be entering the TV-industry as a service/platform with Apple TV. With the model being to take some % off of tv-subscriptions.

It makes no sense for them to also start making TV-screens. That market is totally oversaturated and the Wall Street report gives plenty logical arguments as to why that doesn't make any sense whatsoever.
 

69Mustang

macrumors 604
Jan 7, 2014
7,889
15,034
In between a rock and a hard place
He makes a good point. I have also noticed that Tim has taken time to discuss the poor state of TV in several high-profile interviews including Charlie Rose. I think there is definitely something bigger in the works tv-related, whatever it is.

Perhaps this sudden anti-Apple TV rumor was designed to throw us off of a trail.

Wasn't Tim talking about TV as media content? I don't recall him talking about a physical panel. Those are two totally different things.
 

b0nd18t

macrumors 6502
Apr 9, 2012
307
814
I don't see Apple entering HDTV competition as a positive at all. Seems like a bad idea actually. For all the reasons WSJ and people here have already made.
 

glenthompson

macrumors demi-god
Apr 27, 2011
2,939
804
Virginia
I doubt Apple will jump into the display business. Very low margins and huge competition. The current displays are great, the issue is more about the UI and content distribution. Apple doesn't need to create a display to improve these issues.

I agree completely. Just look at the displays Apple offers compared to Samsung or NEC. I see them coming out with a significantly better Apple TV and the possibility of integration with the TV makers, similar to what they are doing with CarPlay.
 

Reds622

macrumors regular
May 9, 2014
219
215
Apple is eventually going to put a revolutionary projector system into its set top box..

There are is lots of room for improvement in this area, the margins I'm sure can be sweeter, and it removes a giant box from the living room in favor of a small like device. Eventually, I think, the screen will project upwards, so the need to project onto a walled service will be eliminated. How far away are we from this reality? I have no idea. I'm not an engineer.
 

username:

macrumors 6502a
Dec 16, 2013
707
365
To me, this guy represents everything apple is not. Apple's message is always that they make great products. They don't just 'make a TV' to make money and dominate a market. This guy is too short sighted. Apple didn't get where it is today by thinking the way he thinks.
 

iReality85

macrumors 65816
Apr 29, 2008
1,101
2,373
Upstate NY
I just don't see Apple getting into the TV manufacturing business. That would require owning and operating fabs, and LG and Samsung already rule the roost there. As far as branding goes, like what Sony does with Panasonic panels, I don't know if that's a good fit for Apple either. There is the Apple tv, which already serves as an interface and content platform.
 

iamMacPerson

macrumors 68040
Jun 12, 2011
3,482
1,919
AZ/10.0.1.1
Didn't he also invest in Blockbuster thinking things would turn around? He's also the one making PayPal and eBay split. IMHO, this guy is full of himself and an *******.
 

Pakaku

macrumors 68030
Aug 29, 2009
2,760
3,468
A lot of people here still believe in the PowerBook G5 and Retina MacBook Air.
 
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