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

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:

$AAPL is still undervalued and misunderstood. Expect to put out another in-depth report within two weeks.

— Carl Icahn (@Carl_C_Icahn) April 28, 2015

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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