Billionaire Carl Icahn Sells His Entire Apple Stake, Cites ‘Tsunami’ of Trouble in China Market

Apple seems to be on a downward spiral as Carl Icahn, one of the company’s biggest supporters, sold his entire stake, he said on April 28.

Chairman of Icahn Enterprises Carl Icahn participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art in New York on Nov. 3, 2015. Neilson Barnard/Getty Images for New York Times

Apple Inc. has had a rough week. Carl Icahn, one of the company’s biggest supporters, sold his entire stake, 2 days after Apple’s worst quarterly earnings report since 2003. 

Icahn told CNBC on April 28 that he sold his stake in the company amid concerns about Apple’s challenges in the Chinese market. He said he worries a “tsunami” of trouble could affect Apple in China.

READ MORE

• Apple Posts Worst Results in 13 Years, Huge Plunge in China, Hong Kong Sales