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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.
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 !
I doubt he would care to do that, because Apple's stock probably won't increase any time soon. The reason Apple saw a YoY revenue decline is because of the so called "peak iphone", and presently 65% of Apple's revenue comes from guess what. Unless by some miracle Apple can reproduce the same growth they've had in the last 10 years (smartphone market is now matured and saturated and is now starting to go through what the PC market is going through, so good luck with that) their stock is only going to decline for the foreseeable future. So yeah, it's a good time to get out of Apple.
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.
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I doubt he would care to do that, because Apple's stock probably won't increase any time soon. The reason Apple saw a YoY revenue decline is because of the so called "peak iphone", and presently 65% of Apple's revenue comes from guess what. Unless by some miracle Apple can reproduce the same growth they've had in the last 10 years (smartphone market is now matured and saturated and is now starting to go through what the PC market is going through, so good luck with that) their stock is only going to decline for the foreseeable future. So yeah, it's a good time to get out of Apple.
You realize your call of "peak iphone" has been called before like about a hundred times. Is it going to be a rough quarter for Apple? Sure. But I really really doubt it's the beginning of the end...
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Apple's profits are still up, only their sales are down.
Basically icahn realized he can never get his hands on Apple's cash pile. Just like he tried to get his hands on Dell's cash, etc.
To sum up. I can sees a public company with lots of cash on hand as a cash machine. he invests into the company to the point he can push his agenda, his agenda includes taking on massive debt and giving the cash to the shareholders(like him), and then because of the massive debt the company collapses , long after he has cashed out 4-5 times over.
The problem is everyone knows that is what icahn is going to do so when he starts making big moves, every one circles the wagons.
i thought once I was found, but it was only a dream.
Hahahahahahahahahahahahahahahahahahahahahahahaha Goldman Sachs does this several times a minute every minute of every trading day. It's only illegal if you coerce others into selling via the press, etc.
Seven puppies were harmed during the making of this post.
Apple's revenue declined for the first time in it's iphone history. It was mainly due to iphone6 being immensely successful. iPhone 6 revenue grew about 30% compared to previous year. You can't maintain that kind of growth every year. Even this quarter's declined revenue is better than what they earned two years ago.
Don't judge all Apple software by iTunes.
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...
The thing I don't get is how all of Wall Street, the investing community in general, and all of corporate America as a whole aren't on to his game. I'm basicaly penny-ante as an investor, and I know that Ichan is a steaming sack of shit, that every word that he spews from his noise hole is a lie and part of a scheme to manipulate the market and damage a company for his own short-term gain and to hell with anyone and everyone else, and that if he ever takes any interest in a company that company should do the opposite of anything Ichan suggests or desires. Obviously Tim Cook knows that too and so does Michael Dell. So why don't more people/companies/whatever ignore his BS and tell him to go pound sand?
Imagine all the people...
If he secretly convinced a bunch of other people to sell without announcing that it was a group decision, just so he could bottom the price and rebuy himself ... thats illegal as shit.
That's not really a very good metaphor. Shit is quite legal in the US and most of the world. The plant nurseries hereabouts are now in full Spring-planting mode, and that includes selling sacks of cattle manure, both raw (dried and ground to a coarse sand) and composted (with the consistency of topsoil). It's fully legal, and good stuff for your garden.
So maybe we should find a more accurate X to use in phrases like "... as X", something that is at least somewhat illegal. ;-)
Those who do study history are doomed to stand helplessly by while everyone else repeats it.