“Carl Icahn has sold all of his shares of Apple,” John Carney reports for The Wall Street Journal. “‘We no longer have a position in Apple,’ Mr. Icahn said in an interview on CNBC. Mr. Icahn praised the company and its chief executive, Timothy Cook. ‘I think it’s the greatest company,’ Mr. Icahn said.”
“So why sell? Mr. Icahn said it was concerns over China,” Carney reports. “In a call with investors discussing Apple’s second-quarter earnings, Mr. Cook said iPhone sales in mainland China had fallen 11% compared with the period a year prior.”
Carney reports, “In February, Mr. Icahn disclosed that he had sold 7 million shares, reducing his stake in the company to 45.8 million shares.”
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“Apple shares quickly extended losses Thursday, falling more than [2.70] percent after activist investor Carl Icahn said he sold his stake in the company,” Fred Imbert reports for CNBC.
“Apple’s stock has taken a tumble this week,” Imbert reports, “falling nearly 9 percent, on the heels of weaker-than-expected quarterly results, which led to a slew of analysts cutting their price targets.”
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MacDailyNews Take: More, please! Gassing up the truck and throwing it into reverse…