Billionaire activist Carl Icahn Warns the Markets Will Have A Day Of ‘Reckoning’ As He Pulls Out Of Apple Entirely

Billionaire activist investorCarl Icahn said Thursday he had sold his entire stake in AppleInc, citing the risk of China’s influence on the stock.
Icahn, in an interview with cable television network CNBC,also said he was ‘still very cautious’ on the US stock marketand there would be a ‘day of reckoning’ unless there was somesort of fiscal stimulus.
Icahn had been a huge cheerleader of Apple, acquiring astake in the company almost three years ago, repeatedly callingthe investment a ‘no brainer.’┬áIn an open letter to Apple Chief Executive Officer Tim Cook in May 2015, Icahn had argued that shares of the iPhone makerwere worth $240, about 90 percent more than they had beentrading.

 

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