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Can Apple's share price grow to 203 USD per share?

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Last week the American businessman and investor Carl Icahn took to Twitter saying he was sending an open letter to Apple CEO Tim Cook. In Icahn’s letter he argues that Apple stock is extremely undervalued. He outlines his projections, including estimates that the stock could be worth 203 USD per share; which would give a total valuation of 1.2 trillion dollars. 
Senior Equity Analyst from Morningstar Research, Brian Colello, responds to Carl Icahn's lofty valuation for Apple. Brian thinks that Apple can still gain share in the high end of the smartphone market. However projections in the Ichan letter seem overly optimistic and a $1.2 trillion valuation for the firm is too rosy according to Morningstar Research.