Carl Icahn


'Carl Icahn' Articles

Investor Carl Icahn Dumps Apple Shares Over China Concerns

Billionaire Carl Icahn, who has been buying large amounts of Apple stock over the past three years, today told CBNC that he sold his stake in the company."We no longer have a position in Apple," Icahn told CNBC's "Power Lunch" on Thursday, noting Apple is a "great company" and CEO Tim Cook is "doing a great job."Icahn, who sold his shares earlier this year, said that he did so based on worries over China's attitude towards Apple. Earlier this month, the Chinese State Administration of Press, Publication, Radio, Film and Television forced Apple to take down the iTunes Movies and iBooks stores, and Chinese officials believe that Apple is "too deeply established" in core industries in the country. Apple sales also fell 26 percent in greater China in the second quarter of 2016."You worry a little bit -- and maybe more than a little -- about China's attitude," Icahn said, later adding that China's government could "come in and make it very difficult for Apple to sell there... you can do pretty much what you want there." He added, though, that if China "was basically steadied," he would buy back into Apple.Prior to exiting his position, Icahn held 0.8 percent of outstanding shares. He told CNBC that he made approximately $2 billion on Apple and that he continues to view the stock as "cheap." Apple shares have been on the decline since Tuesday's earnings call, where the company announced its first ever drop in iPhone sales and its first year-over-year revenue drop in 13 years. Apple stock is down approximately 2 percent

Carl Icahn Still Believes in Apple HDTV as AAPL's Market Cap Surpasses $750 Billion

Activist investor and billionaire Carl Icahn, during an interview with CNBC today, expressed confusion over The Wall Street Journal's recent report claiming that Apple scrapped its plans for a full television set more than a year ago. Icahn and his investment firm Icahn Enterprises remain confident that Apple will enter the television and automotive spaces, even as analyst Gene Munster admits he was wrong. Icahn issued an open letter to Apple CEO Tim Cook on Monday in which he applauded the company for recently increasing its share repurchase authorization by $50 billion, and encouraged further acceleration of the stock buyback program. Icahn also valued Apple shares at $240 each and said the company will sell 55” and 65” ultra HDTVs in 2016 and introduce an Apple-branded car by 2020."After many years of rumors as part of Apple’s push into television and as we referenced previously, we expect in FY 2016 Apple will sell 55” and 65” ultra high definition television sets," said Icahn in his open letter. "We forecast revenues of $15 billion in FY 2016 and $37.5 billion in FY 2017 on 10 million and 25 million units respectively with average selling prices of $1,500."The open letter also predicts that the iPhone will experience modest 2.3% revenue growth in the 2016 fiscal year, the iPad will rebound with a strong performance and revenue growth of 27.7% in FY 2016 and the Mac will continue to make gains over the next year. Icahn Enterprises predicts 10 million Apple Watch sales in the second half of 2015 and international expansion of Apple Pay. Apple shares are