Icahn says 'dramatically undervalued' Apple should trade at $240

(Reuters) - Billionaire investor Carl Icahn said Apple Inc's stock was "still dramatically undervalued" and that it should be trading at $240, up from his earlier estimate of $216. Apple shares rose as much as 1.4 percent to $130.32 by midday on Monday. Apple boosted its share repurchase program in April to $140 billion from $90 billion announced last year and raised quarterly dividend by 11 percent to 52 cents per share. "It is our belief that large institutional investors,