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Billionaire Investor Carl Icahn Sells Entire Stake In Apple (theguardian.com)

Posted by BeauHD on from the jump-ship dept.

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.

4 of 127 comments (clear)

  1. Good Riddance? by Anonymous Coward · · Score: 1, Interesting

    I'm not sure that anything good will come of looting the company, so this may be for the best.

    1. Re:Good Riddance? by SvnLyrBrto · · Score: 3, Interesting

      Unless you're legitimately talking about a level 2 network, it's the snarky asshat way of typing Mac, of course. Feign ignorance of the correct nomenclature in order to demonstrate that the product is beneath your notice, and all that. The same sort of people would type Lunix instead of Linux, WinDOS instead of Windows, claim that Windows phones still run on Win CE, call the Apple Watch an iWatch, and of course, type Micro$oft or Crapple.

      Basically, it's juvenile name-calling and a sign that the poster is best ignored and/or down-modded.

      --
      Imagine all the people...
  2. Other news at Apple... by __aaclcg7560 · · Score: 3, Interesting

    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/

  3. Year-over-year? by GrahamCox · · Score: 1, Interesting

    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?