Carl Icahn is bearish on the current stock market. After making billions buying Netflix shares near $58, the iconic investor announced today that he’s cashing out now that the stock is trading around $677 because the ‘overheated.’
Despite pulling out of Netflix though, Icahn is still super bullish on AAPL and thinks that the stock is actually at the same point now as when he bought into Netflix back in 2012.
“I don’t see how you can compete with Apple, because of this ecosystem they’ve built,” Carl Icahn told CNBC this morning.
“Apple is where Netflix was but Apple is even in a certain way better because of barriers for competition there,” the billionaire activist-investor explained. “Apple could be one of the greatest stocks of the century,” revealed Icahn who says he hasn’t sold a single share since taking a strong interest in Apple’s stock back in 2013.
Despite strong iPhone sales and the Apple Watch blazing a trail in the wearables market, AAPL shares have plateaued below $130 per share the last 6 months, but that’s totally cool with Carl, who said who wouldn’t mind if Apple shares dropped even lower now that the market is about to fall a bit.
“If Apple goes down, I’m not that upset because I’ll buy more of it,” said Ichan. “If you really love a company, in a strange, perverse way, you almost don’t mind it going down. Apple I really wouldn’t mind.”