Carl Icahn sold his piece of Apple? Icahn is concerned about Apple’s relationship with China
Carl Icahn sold his piece of Apple
Icahn, who has already made profits from his investment in the technology (XLK) (QQQ) giant, perceives risk in holding the stock any longer. He made about $2 billion off his Apple trade. However, Icahn is concerned about Apple’s (AAPL) relationship with China (FXI) (YINN). This made him exit the company. China’s weakness started impacting Apple’s stock price. According to the company’s latest earnings release, Apple’s revenue from China fell 26% in 1Q16 over the previous year.
The magnate sold all his Apple shares, representing 0.83% of the company and are valued at 4,400 million dollars.