Carl Icahn who is a billionaire asserted the CNBC news on Thursday that he no longer holds any stakes in Apple though Apple is a great company and Tim Cook has been doing a wonderful job. It is noteworthy to know that previously Carl had the Apple stocks in huge quantities since three years.
Ican had been worried by China’s attitude towards Apple when the Chinese State Administration of Press, Publication, Radio, Film and Television forced Apple to take down iTunes Movies and iBooks stores thinking that Apple is already too deeply established within the country’s industry.
He said that with the Apple sales decline by 26 pc one might worry a bit but he would worry more looking at the Chinese attitude prevailing which makes it difficult for Apple to sell there. He also added that Apple’s sale is what China needs to be steady again and they should do so again soon.
Before taking out all his Apple shares he held 0.8 pc of shares where he made about $2 billion but he still considers it a cheap stock. However Apple’s shares have been declining since Tuesday when the first earnings call was made and the first drop since 13 years came. Today the Apple stocks are down by about 2 pc.