Billionaire Carl Icahn sold all shares of Apple from China

Billionaire and principal owner of diversified holding company Icahn Enterprises Carl Icahn (43-e a place in the global ranking of Forbes, condition — $17 billion) no longer owns shares of Apple. This he said in an interview with CNBC.

“We have no position in Apple,” Icahn said, noting that Apple “big company”, and its CEO Tim cook is “doing a terrific job”.

Explaining his decision, Icahn has expressed concern about the situation of Apple in China. Investor worries that the Chinese authorities may impose restrictions on Apple’s business that may affect the level of sales. At the same time, Icahn admitted that he was not afraid of the slowdown of China’s economic growth.

Carl Icahn bought shares of Apple in 2013. The investor has repeatedly noted that the company is undervalued. In February 2015 Icahn said that one share of Apple should be worth $216, and the capitalization of the company, in his estimation, should be around $1.3 trillion. The proportion of Aikane in the company amounted to approximately 45.8 million shares, it was the largest foreign shareholder of Apple (did not participate in the management of the company and had no voting rights). According to Bloomberg, at current prices, a package of Aikane could cost $4.4 billion

The statement was followed by Icahn against the publication of quarterly reports in which Apple reported a fall in revenue for the first time since 2003. For the second quarter of the current financial year it amounted to $50,6 billion, compared with $58 billion in the same period last year. IPhone sales in the second quarter of 2016 fell 16%. The largest drop in sales — 26% — was recorded in China and in the United States, the drop was 10%. After reporting on April 27, Apple shares fell by almost 8.2%.