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|30th April 2016, 10:52||#1|
Join Date: May 2010
Apple fanboy sells his shares in China Crisis
Billionaire activist investor Carl Icahn has sold his entire stake in Apple because he thinks the outfit will get bogged down in China.
Icahn was a huge cheerleader of Apple, acquiring a stake in the company almost three years ago, repeatedly calling the investment a “no brainer.”
He owned 45.8 million Apple shares at the end of last year, but thinks that China’s economic slowdown and worries about how China could become more prohibitive in doing business triggered his decision to exit his position entirely.
“We no longer have a position in Apple. Tim Cook did a great job. I called him this morning to tell him that and he was a little sorry, obviously. But I told him it’s a great company,” Icahn said.
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