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Billionaire Investor Carl Icahn Sells Entire Stake In Apple ( 127

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.
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Billionaire Investor Carl Icahn Sells Entire Stake In Apple

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  • Good Riddance? (Score:1, Interesting)

    by Anonymous Coward

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

  • by Anonymous Coward

    Where'd that number come from?

  • Did anyone else see this story looking muted for awhile []?

    I'm used to the occasional glitch where, even as a non-subscriber, I sometimes see stories in advance and highlighted in red. But this was something different, it's like the story itself got caught inside the advertisement. There was no way to click into the story and the "X" didn't do anything. Using Firefox on Windows. Sunspots!

    • I've seen is a glitch in the Matrix.

      It normally means a raider of the lost corporate ark is eminent.

  • by Sycraft-fu ( 314770 ) on Friday April 29, 2016 @08:30PM (#52016289)

    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.

    • by EvilSS ( 557649 ) on Friday April 29, 2016 @08:43PM (#52016345)
      This. 10000000 times this. Guy is a world class asshat. He probably dumped his shares as a final tantrum because Apple wouldn't bend to his bullying and he finally ran into a company that, even will all his billions, could tell him to go pound sand.
      • *shrug* Sounds like normal corporate america to me... my experience is that *all* the players are like that. And that is why the country is in the shitter. Hey, its the American way.

      • by Anonymous Coward

        He'll be dead soon, and he'll never have time or health enough to spend even a tiny penny of his money.

        So all the companies he's screwed over will get the last laugh.

        I particularly remember the scumbags tricks to damage. He pretended to be an investor (he actually held options instead), he drove the shareprice down from $17 to $12/share. He lied pretending the Microsoft offer was worth $20/share, it was actually worth $8/share (a loan is not income Carl).

        Microsoft's deal included buying a portion of shares

  • by __aaclcg7560 ( 824291 ) on Friday April 29, 2016 @08:42PM (#52016343)

    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. []

  • by rsilvergun ( 571051 ) on Friday April 29, 2016 @08:46PM (#52016357)
    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.
  • Year-over-year? (Score:2, Interesting)

    by GrahamCox ( 741991 )
    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?
    • "Year-over-year" is just financial jargon and has a specific meaning in that context.
      it is rather absurd to base an argument by taking alleged literal meaning over jargon meaning.

      what next? for example, when you read word 'trojan' here, do you expect to see hector or his ilk? or do you expect the legendary greek wooden horse that tricked the trojans?

      btw if you are so confident about apple and think you know better than icahn and other investors, all you have to do is to take a long position( and i don't mea

    • br Makes it sound like they've been declining for several years.

      You're taking it wrong. Y/Y means the same quarter of a year ago, rather than the previous quarter. The reason for doing this is to remove seasonal biases from the comparison.

  • ..and there's a place in the free market place for icahns.

  • by Applehu Akbar ( 2968043 ) on Saturday April 30, 2016 @12:46AM (#52017213)

    Don't judge all Apple software by iTunes.

  • For those who did not know: iPhones sales account for 60% of Apple revenue, and 80% of Apple profit. As iPhones go, so goes Apple. Everything else is nearly irrelevant.

    What if Android is overtaking iOS in phones, in the same way that Windows overtook MacOS in PCs? For those who don't remember: Apple nearly went bankrupt in the 1990s.

    Apple had the same philosophy with PCs in the 1990s that Apple has now with smart phones: super high margins, everything proprietary. Apple expects to be worshiped to the point

  • The fact is, that Apple put all their manufacturing over in China and now that is being used against them.
    And the Chinese gov is putting up more and more tariffs.
    It is for this reason that I hope that Tesla will NOT put their best prizes over there just to gain a few $ more in sales.

Computers are unreliable, but humans are even more unreliable. Any system which depends on human reliability is unreliable. -- Gilb