Apple Inc. (AAPL) And Icahn: When Business News = Entertainment

By Brad Cornell Apple - Too often the investment business mimics the entertainment business.  An issue becomes hot, it dominates the press for a short time, and then it is gone and everyone forgets it.  While that may be a fine strategy for think about movies, it is not a good one for analyzing investments.  If you don't follow up on your predictions and reassess your analyses, what is the point of doing the valuation analysis in the first place?

Here is one example.  On May 18, 2015 Carl Icahn penned an open letter to Tim Cook on the valuation of Apple.  Icahn concluded, "With Apple’s shares trading for just $128.77 per share versus our valuation of $240 per...