Markets

Carl Icahn thinks the stock market's most valuable company is 'undervalued and misunderstood'

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Apple reported another monster quarter on Monday, with earnings, revenue, and iPhone sales all topping expectations.

The company also announced that it would return $200 billion to shareholders over the next two years.

But activist hedge fund manager Carl Icahn still doesn't think investors get it.

In a tweet on Tuesday morning, the 79-year-old said:

Apple's market cap is about $760 billion. Its value is roughly double that of the US stock market's next-largest company, Microsoft.

According to his latest filings with the SEC, Icahn owns about 52 million shares of Apple, a stake that at today's market price of $132 is worth about $6.8 billion.

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Myles was formerly Business Insider's markets correspondent. He joined Business Insider as a markets reporter in May 2014, coming to BI from The Fly on The Wall where he was a writer for its breaking-news team. He is a graduate of the University of Connecticut.