“Carl Icahn is experiencing a sudden car craze,” Ari Levy reports for CNBC.
“Last week, the activist investor plunged $100 million into ride-sharing start-up Lyft. And in Monday’s letter to Apple CEO Tim Cook, Icahn used the word car or automobile 23 times in talking up the company’s growth prospects and per-share value of $240,” Levy reports. “Let’s not forget that Icahn spent 2014 snapping up shares of Hertz and now owns 12 percent of the rental car company. Hertz was his fourth-biggest holding as of December, behind Apple, eBay and Chesapeake Energy.”
“Icahn is clearly doing plenty of research on the market and where it’s headed,” Levy reports. “In his letter to Apple, urging the company to increase its buyback program while continuing to invest in ambitious growth projects, Icahn showed his wealth of knowledge in the movement toward driverless cars… cahn owns almost $7 billion worth of Apple stock.”
Read more in the full article here.
MacDailyNews Take: Icahn knows that Apple would sell so many cars.