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Billionaire Investor Carl Icahn Sells Entire Stake In Apple (theguardian.com)
An anonymous reader writes: Billionaire activist investor Carl Icahn said he has sold his entire stake in Apple, citing the risk of China's influence on the stock. The report comes after Apple announced its first earnings decline in more than a decade, where Apple's revenue is dropping 26% year-over-year. Icahn is concerned with the barriers to trade that China's authoritarian regime might put in place. Icahn said he wasn't concerned with interference so much with the country's "relationship" with Apple. "The thing that I'm worried about here in China doesn't affect the whole market. I'm not talking about China's economic status right now. I'm talking about, could the thing with Apple escalate a little bit? And if that does, what does that mean to Apple's profits during the interim?" Icahn acquired a stake in the company almost three years ago, calling the investment a "no brainer." What caused him to sell his 45.8 million Apple shares (priced at $240 a share) was China's economic slowdown and worries about how China could become more prohibitive in doing business.
Also considering who it is, selling all of his stock in Apple, could "plunge" the stock, then after it bottoms, he buys it back at a super low price, and it goes back up and he makes even MORE money.
I'm not sure that anything good will come of looting the company, so this may be for the best.
Where'd that number come from?
Did anyone else see this story looking muted for awhile?
I'm used to the occasional glitch where, even as a non-subscriber, I sometimes see stories in advance and highlighted in red. But this was something different, it's like the story itself got caught inside the advertisement. There was no way to click into the story and the "X" didn't do anything. Using Firefox on Windows. Sunspots!
Thanks to the War on Drugs, it's easier to buy meth than it is to buy cold medicine!
... he owns "stock" in the FBI as well? Conflict of interests.
That's a name he and his PR people have made up because it sounds cool. He's a corporate raider: He buys successful companies on a heavily leveraged position, transfers all the debt to them, sells off their assets, and then leaves them to die. He tried to do it with Dell, but failed thankfully.
Let's say what you have suggested happens, that Carl Icahn makes another trillion dollars shorting Apple stock and then buy back at super low price
Let me ask you this --- is there anything wrong with what he does?
After all, this is the FREE MARKET --- If you get to do whatever you want with your own money, Mr. Icahn should have the same right and use his money the way he sees fit
Now, don't tell me about that bullshi 1% thing
They get to be 1% because they use their brain, and if you can't be amongst the 1%, hey, don't blame them, blame yourself for being too lazy to use YOUR brain
That says ... Carl Icahn has a point in saying Apple's over reliance on China (or any other country for the matter)
Ever since the death of Steve Jobs Apple's future has gone bleak. Cook is no Jobs. He ain't got the vision of Mr. Jobs nor the drive to identify the upcoming trend
All Cook has done was sitting on the helm doing nothing
I mean, what's so different between the latest iteration of iPhone with their previous version of the same product?
As far as I can tell, except for the hype, nothing much
Under Mr. Jobs, Apple went from one product to another --- from Apple to Mac to iPod to iPhone to iPad, --- and under Cook, what kind of new product Apple has come out with?
Apple might as well do what Yahoo is doing --- give away the hundreds of billions that it is sitting on to the shareholders, and close their doors, since there ain't gonna be any exciting new product coming, certainly not under Cook
Muchas Gracias, Señor Edward Snowden !
This has been an incredibly difficult week for Apple. The company shed more than $40 billion in market capitalization on Tuesday evening following its fiscal first-quarter earnings report, which showed a much steeper decline than Wall Street was expecting in both profit and iPhone sales. Then, just one day later, tragedy struck Apple's Cupertino, California headquarters when one of the company's employees was found dead in a conference room on campus.
http://bgr.com/2016/04/29/apple-suicide-cupertino-campus-recap/
folks coming to their senses and not paying $2000 for a $600 laptop didn't make the list. Yeah, yeah, I know it's the only good option for Unix + 100% Working WiFi. Then again, I can get a pretty sweet phone for $200 unlocked from newegg now so there's some pressure there. The difference between a decent smart phone and top of the line got a lot smaller these last 2 years.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
26% year-over-year
br Makes it sound like they've been declining for several years. They've had their first dip in revenue in 13 years - I think it's a bit early to say if that represents a 26% decline "year over year" or whether it's just a blip. But hey, let's all get on the whole "Apple is doomed!" bandwagon all over again. What is this, the 1990s?
..and there's a place in the free market place for icahns.
Icahn's move to sell out is right.
His reasoning, as reported in the Main Stream Media, is flawed, i.e. wrong.
What is wrong?
The "Wrong" is at Infinite Loop, Cupertino, California, in Timothy Donald Cook, his Board, and his Subordinates like Jon Ivey, Queer, to shelter him, Timothy Donald Cook.
The wrong has to do with Timothy Donald Cook's transformation of Apple from a technology company to an Investment Capital Company, investing is Health Care, Queer Rights Legislation at State and Federal Levels, and Terror Environmentalism Causes (thanks to Albert Gore II). As the sell-off in stock continues, even as Apple announced they were re-igniting their stock buy-back on the same day, Apple's old customers and old money are running to the hills and the potential new customers and new money are running for the doors!
Tim Cook's decisions to kill off iPod, iTunes, iMac, Mac Mini and pitiful attempts to fold iTunes into Apple Music (a monthly subscription service) and fold parts of iTunes into Apple Pay (a vain attempt to re-invent the worst parts of PayPal) is pathetic.
We have to ask, Is Bill Gates the Nemesis of Apple? Answer, NO: Timothy Donald Cook is Apple's worst nightmare!
Oh Well. During the 1895 to 1910 era New York and cites of eastern North America and London and Paris enjoyed the Great Horse Manure Crisis! [look it up]
And so Apple Computer, did die, and Apple Inc. will die, an ignominious death. I am just pissed off that the KKK Queer from Alabama Timothy Donald Cook will be Apple Inc.'s last CEO.
Pity indeed.
or lose your shirt. Come Monday, it will be Manic!
PRINCE. Doper! Dead at 57! End of story!
(He wrote that.)
No text, see subject line
Don't judge all Apple software by iTunes.
He'll be dead soon, and he'll never have time or health enough to spend even a tiny penny of his money.
So all the companies he's screwed over will get the last laugh.
I particularly remember the scumbags tricks to damage. He pretended to be an investor (he actually held options instead), he drove the shareprice down from $17 to $12/share. He lied pretending the Microsoft offer was worth $20/share, it was actually worth $8/share (a loan is not income Carl).
Microsoft's deal included buying a portion of shares at $20, that was likely Icanns reward.
Fuck him.
iCahn't
Possibly the biggest and most flagrant case of insider trading ever.
I think Mr. Icahn knows that Apple is in for some serious hurt in the market. Don't count him as being totally out. But the problem with Apple and its stock holders has been over expectations compared to other more mundane stocks that rise or lower more slowly. Apple seems to have that same business result in its past.
Its been either hot or cold and on the brink of collapse or raking in millions. Its clear most companies would be happy with what Apple has achieved. But of course Apple is different.
Now, if we can just get him to sell his stock in every company that he owns, so that:
1. we can stop hearing about his moronic attempts to influence public companies to do things or make policies that personally benefit him
2. get him off of the boards of those other companies
3. he will go away
For those who did not know: iPhones sales account for 60% of Apple revenue, and 80% of Apple profit. As iPhones go, so goes Apple. Everything else is nearly irrelevant.
What if Android is overtaking iOS in phones, in the same way that Windows overtook MacOS in PCs? For those who don't remember: Apple nearly went bankrupt in the 1990s.
Apple had the same philosophy with PCs in the 1990s that Apple has now with smart phones: super high margins, everything proprietary. Apple expects to be worshiped to the point that Apple does not need to have a better value.
From what I have been reading, the Samsung Galaxy S7 Edge beats the iPhone in several respects.
It is my understand that Samsung beat Apple to the punch in the following:
higher resolution camera
heart rate monitor
big display
amoled display
water resistant
wireless charging
1080p display
answer by waving
wirelessly sharing photos
controlling
Next up, Apple board hires Carly Fiorina as CEO so she can work the same magic as she did at HP. Result: unimaginable profits for board members and executive staff.
The fact is, that Apple put all their manufacturing over in China and now that is being used against them.
And the Chinese gov is putting up more and more tariffs.
It is for this reason that I hope that Tesla will NOT put their best prizes over there just to gain a few $ more in sales.
I prefer the "u" in honour as it seems to be missing these days.