Carl Icahn wants Apple shareholders to know that it’s not just about the money — he’s also a fanboy.
The feisty septuagenarian known for rattling C-Suites revealed a rarely seen techie side in a lengthy letter to Apple‘s shareholders on Thursday.
The letter was written to convince Apple investors to vote for his upcoming buyback proposal.
But the billionaire, who owns $3.6 billion worth of Apple’s stock, also raved about Apple’s product potential, including the opportunity for a “revolutionary” new payments system.
With the combination of Apple’s fingerprint sensor and more than 575 million credit card numbers stored in iTunes, Icahn said he thinks “a revolutionary payments solution is now a very real opportunity” for Apple.
The iFan also went on about the potential for Apple to launch a “smart” TV and a “smart” watch amid rumors that Apple will unveil at least one of these devices this year.
“With 238 million TVs sold globally in 2012, it would not surprise us if Apple could sell 25 million new Apple ultra high definition televisions at $1,600 per unit,” Icahn said.
Apple shareholders will vote on Icahn’s proposal to boost Apple’s stock buyback program to $110 billion from $60 billion at the end of February.
On the buyback, Icahn reiterated his view that Apple is undervalued compared to other stocks in the S&P 500 index. A share repurchase would boost the stock as a signal of “the company effectively making an investment in itself,” he said.
He also agreed that Apple needs to retain a good-sized cash stash to invest in new products and technologies.
But he dismissed the view that Apple needs as much as it currently has — even with so many new products potentially in the works.