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"I hope he's right from his lips to God's ear," Baker told CNBC's "Squawk Alley. "
Earlier on Monday, Icahn said in a open letter to Apple CEO Tim Cook he believes the company's stock is worth about $240, adding that the company is poised to overtake the television market by 2016 and automobiles by 2020.
Apple shares were up about 1 percent in afternoon trading. Click here to see where the stock is trading now.
Still, Baker added that he is not paying too much attention to Icahn's price target of $240. "I wouldn't say I really run with price targets, just because in growth investing, often the way you make money is by holding stocks. Starbucks went from having 1,000 stores to having 20,000," he said.
Baker also addressed why about 50 percent of his portfolio's holdings are tech stocks. "Tech has historically been the most alpha-rich part of the market, so it makes sense for me to concentrate my portfolio on the part of the market where active managers can add the most value."
Nevertheless, Kurt Simon, JPMorgan Chase's head of technology, media & telecommunications investment banking said Monday there is one area of the tech market that is lagging: IPOs.
"The IPO market on the tech side has been anemic. We average 15 to 20 a quarter [and] we've had seven so far this year, so there's no question that it's down. The reason is the private market, so a lot of these institutions are very active investing in private companies and have been able to raise significant amounts of money in the valuations, and that's taken a lot of the volume from the IPO market," Simon told CNBC's "Squawk on the Street. "