Carl Icahn said Apple is a no brainer. Why? Because they have all this money sitting in the bank and they could use it to buy back a tremendous amount of shares and the make decent product.
So the premise which is so far working again for Carl, is that just by its cash balance, the company is worth more because if they used it to buy back stock, EPS goes up and that means future earnings will bring more cash to investors due to a lower share count, along with potential growth.
But there is no way Apple can get its margins to double where they are now. There is no real way aside from natural growth for earnings to increase and they could see it.
But with Deckers, we are looking in the next 30 months of a company basically earning double the money it is today just because of savings in product costs. Then you add in growth from international sales and new products and that means even more money.