Apple loses billionaire investor

Apple loses billionaire investor

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– Apple loses billionaire investor

– Billionaire Investor Dumps Apple over China Prospects

– Investor Earns Title for Activism

APPLE LOSES BILLIONAIRE INVESTOR
Carl Icahn, Billionaire Investor

Apple loses billionaire investor.

The shareholder Carl Icahn sold his holding in the computer firm based on concerns about the company’s projections in China.

“We no longer have a position with Apple,” he said in a TV interview.

According to BBC reports, Mr Icahn made $2bn (£1.37bn) from selling his stake in Apple. At one point last year, he owned 53 million shares, valued at $6.5bn.

The billionaire earns the title “activist investor” for his notable thrust for changes at firms he invests in.

Icahn began to purchase Apple shares in 2013. It was by the third quarter when they were trading at around $68 per share.

Reportedly, shares closed on Thursday at $94.83, down 3% for the day.

Mr Icahn claimed he spoke to Apple’s chief executive Tim Cook, to inform him of the share sale.

“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,” Mr Icahn said.

Apple loses billionaire investor.

The stock sale has not been disclosed in a filing to the stock regulator. News of the sale emerged in an interview with US financial news network CNBC.

As indicated by BBC, Mr Icahn is the majority shareholder in Icahn Enterprises – a holding company with a range of investments, with interests ranging from mining to automotive to real estate and food packaging.

On doubts concerning China, BBC alleged that Mr Icahn said that China’s economic slowdown and worries over government interference hastened his exit from Apple shares.

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“In March China passed a law that required all content shown in China to be stored on servers based on the Chinese mainland.”

“As a result Apple’s iBooks and iTunes movies service were shut down in the country. Apple said it hoped access to the services would be restored soon.”

“Earlier this week, Apple reported in a 13% drop in its second quarter revenue as sales of iPhones slipped.”