Billionaire investor Carl Icahn sells entire stake in Apple

Discussion in 'Market News' started by Lily, May 9, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Icahn has sold his shares in the company because of concerns over China’s influence on its stock price

    Carl Icahn, the billionaire activist investor who has long been one of the most prominent voices declaring the company to be undervalued, says he has sold his entire stake in the technology firm, citing the risk of China’s influence on the stock.

    After years of high growth, reaching triple-digit percentage points in 2015, Apple now sells more in China than it does in the whole of Europe. But sales in the country are now shrinking, with revenue dropping 26% year-on-year in the company’s latest quarterly earnings.

    Related: A brief guide to everything that’s annoying about Apple

    Related: Apple CEO vows after company loses over $40bn in value: 'This too shall pass'

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